Buying Investment Ultimately for Primary Residence

Apple is an investment. An apt bought with 3% mortgage is a joke.

The rent restrictions expire when your tenant moves out, but you'll be subject to the sub-let policies of the co-op (as enumerated in the proprietary lease). If you're looking for a property you can rent out to others, a co-op is probably not the best investment vehicle.

Piggybacking off what Aaron2 said, co-ops can be a good vehicle for investment provided they have lenient sublet policies. You'll be able to get into your investment property at lower closing costs and an overall lower price. Still, you need to make sure you verify what the sublet policy is within the building. Sometimes when co-ops go from being a rental building to co-op, the Sponsor who owns the majority of the shares will offer a discounted price to current tenants. If the tenant declines they are grandfathered in for the life of the building. So it's possible that the building your looking in may not allow subletting at all but the reason there's a tenant in place is because they were grandfathered in when the building went co-op. You need to get that information from the managing agent of the building. Give me a call if you need some more information.

*I should say for the life of the tenant, not the life of the building - how long they are grandfathered in. Also, I meant to say you're not your on line 6.

http://streeteasy.com/nyc/sale/877347-condop-221-west-82nd-street-upper-west-side-new-york

hahahahahaaaaaaa..... buy this POS..