/biz/ - Business & Finance

Greetings fellow big cocked landlord chads. I recently became one of you after a relative passed, leaving me with a 3 unit rental property in Los Angeles.

Looking for advice here… I can sell the place ($1.8m appraisal) and pay half to capital gains or keep the place and management the tenants for some steady income.

The problem: 1 unit is vacant (yay) while the other 2 are occupied by people who have been paying $500/mo for 15 years (my relative hated money apparently). Needless to say I cannot evict them, raise the rent, or get them to leave voluntarily.

Am I better off selling the place or are their other options I haven’t discovered?

Notes: I don’t need the money, I’d like to keep this as a long term investment, that said, I don’t mind losing half to Uncle Sam as again, I don’t NEED the money.

Let me know your thoughts,