I am glad of being a kind of a good helper, please stop congratulating me
Found on the web:
Indeed.
Amen!
Well, the good news is that your cost basis is zero, and if you inherited it from your folks, then your prop tax basis might also be low, so your tolerance for pain would be very high! :-).
You probably already know this - but once you get that tenant out, do whatever you can to get it out of rent control. Condo convert (is the lottery bypass still avail for 2 unit buildings?), whatever.
The problem you are facing are the eviction control ordinances in SF, which all properties, including SFH and condos are subject to. And the way to trump the eviction control ordinance is to raise rents meaningfully ā¦ which can only be done on props not subject to rent control.
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I did not know about the condo conversion option. Thx