SRO Litigation Attorney

Here is the best advice you will get:  don’t buy an SRO with non-paying tenants, especially if you need to ask a public forum about where to find a good SRO lawyer.  SROs are for professional RE investors.  I recently looked at an SRO with non-paying tenants on manhattan avenue.  The owner / broker were confident the tenants would start paying after the sale (though they were not able to say why…).  They were also confident I could convert the house into Class A units or a single family house (though they had no idea what the process is, as the owner himself wanted to do this when he bought the property, but failed).  The more I diligenced the property, the more clear it became the house was a money pit.  The tenants were being harrassed, which meant you could not get a CNH, even if you somehow got them out of there.  Also, the tenants were being charged illegal rents, which created a huge liability for the owner, since they could be forced to repay back rent.  You should know, that it is a multi-year process to evict someone from an SRO, add to this multi-year process a 3 year waiting period to get the CNH, then you can apply for permts.  So, unless you are pricing in a 5-7 year process to convert this property, you should reexamine the proposition.