Be ready to fight for your security deposit
Pros
Building Manager is an angel, the street is lovely, quiet, no trash, well shoveled in the winter. Water pressure is great. Regular visits from the exterminator.
Cons
The management company is impossible to contact, they WILL jack up the rent at any opportunity, updates are few and far between, constant notices left on the door that the ConEd bill is delinquent, water infrastructure issues cause water to be shut down often and when it's brought back it comes out brown. Regular water leak issue from 3rd floor to 2nd floor. Walls are paper thin.. you can hear your neighbors sneeze. Mice.
Advice to the owners
It's going to cost you more in the long-run to be unresponsive and unreliable to tenants needs and rights.