55+ years old Community

[Enzo Pazos]

There are 2 apartments available at a 55+ community. The prices are awesome (rents almost 2% of the property value). The only issue is that these communities do not want any investors. Because of that, there is a regulation that claims “minimum of 3 years after purchasing to be able to rent out the property “. That’s why prices are that good. Obviously, nobody would want to wait 3 years to start seeing some cashflow. My question is: what would you do? I’m waiting to hear if they can make an exception (hopefully). Thanks!

[Robert Leonard]

@Enzo Pazos I agree with @Christopher Phillips above. They likely won't make an exception.

I'd pass on that deal and keep looking. There is always another deal - don't get too hung up on just one. 

Robert Leonard