Apartment complex financing

[Adam Berlinberg]

I have an opportunity through sheer luck from a family friend to buy an apartment complex and not sure how to go about financing. It is 32 units and severely under market rent with a low purchase price reflecting that. After bringing to market rent, would generate around $35k a month in cash flow, before property management fees. I’ve never done commercial financing, and not sure where to start. I know it is much more difficult to get, but with a property like this seems like it could happen. Asking price is $1.5 million, which I was just preapproved for on the residential side for an investment property. Any thoughts?