Immediate Rent Upside: LIHTC to Market Rate Conversion The property's recent exit from the LIHTC program releases it from restrictive rent caps, allowing rents to be immediately adjusted to competitive market rates. Repositioning Strategy: Implement a phased conversion plan to market-rate rents upon tenant turnover, driving substantial top-line revenue growth. This move is supported by Buffalo's strong rental demand and increasing home values. Potential Rent Growth: Based on initial market analysis, there is a clear opportunity for rent increases from the former restricted levels, offering a clear path to unlocking hidden equity.