150 Units Distressed

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Hey All,

I have a property in Memphis Tennessee that I am looking to purchase. It is 168 units. I negotiated with the seller and he agreed to do the sale for 450 thousand dollars cash. My goal is to have the apartment complex fully rent subsidized. Between the VA and section 8 I feel as if I can get the property up to 80% occupancy. The property needs about 2.5 million dollars in rehab costs.

It would be great if someone can share with me memphis contacts who would be able to help me secure tenants with vouchers for subsidized rent. 

I would also love to hear about other peoples experiences in the memphis market. 

Thanks Yehuda