Buying a home in Market to Affordable Program [Edison]?

I’m trying to buy a house that’s currently in the “Market to Affordable” program. Per a disclose, “edison has implemented a affordable housing trust to implement market to affordable program…participating landlord will be required to deed restrict the units for a period of time. During this deed period, units must be rented to qualified low and moderate income households which will be selected from an existing pool”

is anyone familiar with such program? if so, thoughts about buying a multifamily home with one unit in this program? It sounds like this deed is only for a certain time and can adjust rent to market rates? Do they provide any incentive to landlords for being in this program? Also, the rent for the unit in this program is 1500 for 2bed which is below market rate ($1800). If i’m able to get the property for the price I offered, I should still break even if I rent both properties for 1500. Can someone shed light? pros and cons?

Thank you!!

submitted by /u/joeantwi
[link] [comments]

I’m trying to buy a house that’s currently in the “Market to Affordable” program. Per a disclose, “edison has implemented a affordable housing trust to implement market to affordable program…participating landlord will be required to deed restrict the units for a period of time. During this deed period, units must be rented to qualified low and moderate income households which will be selected from an existing pool” is anyone familiar with such program? if so, thoughts about buying a multifamily home with one unit in this program? It sounds like this deed is only for a certain time and can adjust rent to market rates? Do they provide any incentive to landlords for being in this program? Also, the rent for the unit in this program is 1500 for 2bed which is below market rate ($1800). If i’m able to get the property for the price I offered, I should still break even if I rent both properties for 1500. Can someone shed light? pros and cons? Thank you!! submitted by /u/joeantwi [link] [comments]

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