Newbie looking to purchase 23 Units on Master Lease Agreement

[Marcus Joseph]

Hi BP family,

I recently received an email regarding a multi-family 23 unit apartment complex just outside Houston. So far I've visited the property, taken pictures, and spoken to the broker who works with the owner. I'm a newbie investor, so I don't have a liquid assets to purchase the property, other than the EM required. I've sought funding through my local credit union but, they require too much down to secure funding. And a hard money would request astronomical points and fees. So I've been reading about the master lease agreement, which is an awesome idea (thanks Brandon Turner). Regarding the master lease should I do A intent to purchase contract first, providing they are willing to do the deal?However, I'm not sure what my next step is. Any suggestions and/or advice would be greatly appreciated. 

Thanks BP family, 

Marcus Joseph 

[Kevin Schulte]

 If your a newbie investor why are you looking at such a big deal? You are jumping in over your head I think, don't even have the cash to get the financing plays a big role

He's going to have the same amount of work on this as he would a 5 unit, might as well go big i'd say - if it cash flows basic maintenance will be covered by that and due dilligence should give him breathing room to save up for roof repairs and the like.