Low income housing tax credit

[Jumaane Bey]

Good evening BP, 

I am trying to better understand the Low Housing Income Tax Credit process. 

What are some of your experiences during the process, from application, to build up or renovation, & the lease-up/ renting years. 

I am looking into a new construction, 160+ unit apartment complex, for $20MM ($2.36MM down payment) & my investor wants me to get qualified for the tax credit. 

The potential gross income w/ market avg. rent is $2.2MM -  7% vacancy ($158k) - OE ($735K) -Debt Service ($1.2MM) = Net Cash Flow Stabilized ($331k). 

Thank you in advance, 

Jumaane Bey