Using a master lease to get an apartment bldg

[Britton Campbell]

Hello all and thank you for any advice you can offer. I have always had the real estate bug and recently have been learning about the possibility of acquiring an apartment building using a master lease. I would like to get something between 40-100 units. I want to be able to hire a property management company and feel anything much less than 40 units may not be practical to do that in the beginning. At least that's my thinking. My plan is to find a C class properly with some upside so I can increase the value and rent and once the term of the master lease is over either purchase the property or sell it to another investor and use the profit to purchase my next apartment building. I am still trying to learn the in's and out's of underwriting deals so I can start looking at properties and running the numbers until I find one that makes sense. Any advice, tips,comments or concerns are greatly appreciated!