Something to think about (but if you truly had read every page of this thread you'd know the answer):
Whats say I'm rich & have decided it'd be a cool thing to occupy my spare time in the real estate market. I'll buy all the houses around your rental properties & rent them out for around 60% less than you. I'll be undercutting the market & screwing you over. But you see, it's my "passion".
I mean, what do I care if it screws up your income, livelihood or that local market? After all, I'm rich, can afford to do it, it won't affect me & it's just something that looks like fun for a while....
I'm really, really passionate about real estate. Hope you don't mind though.
PS: I submitted my purchase approval to the council housing department almost 2 hours ago! When will they reply to me???? But what if I don't have any property experience, can I still buy? And what about nationality about buying property? Can I get involved? Is there an age limit to get involved? I mean, it would be INSANE for me to actually call the Housing Department to get 100% accurate information!!