RS, what do you think the fair price for this complex?
Since HOA is insolvent, there is no reserve. So to make it solvent and have minimum reserve, probably another $20K per unit?
How about rent? In the article it mentioned that there were elderly roommates paying $300/month for the past 20+ years.
This article also mentioned about ghost town at night. It kind of validated my thesis that we have over-built and have too many housing supply. Even with all the problems fixed, it still has trouble to attract renters/buyers.
