We would like to know your take on this...
Say there is an old abandoned (former multi-unit rental) property,
that has been taken over by the city, due to neglect on the owner.
An out of town potential buyer puts in a rather low offer.
He claims he plans on renovating the place, and turning it into
a single family home for rent.
City council denied his bid, stating:
and we are sumarizing here...
The city has not had good luck with out of town landlords.
Now, this patricular gentleman already owns a few properties
locally, and are said to be up to code and such.
The neighbors want the structure torn down.
As they've had the "pleasure" of looking at this place
every day just sitting there wasting away and lowering
their own property values.
What are your thoughts?