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Sorry if someone has already posted a link to this gem from the WSJ: http://online.wsj.com/article/SB10001424052748703683804574533633596413714.html#articleTabs%3Darticle

Quote: “There’s nothing wrong with buying a condominium in a building that once housed rental apartments, as long as you keep two ideas uppermost in mind: First, you’re buying a used unit, and second, you probably won’t get a full picture of the building’s defects until after you move in.”

As opposed to buying in a new development…