Financing question. Loan type?

[David Boroughes]

Looking to finance 75% of $1,000,000 for a 12 unit apartment complex which grosses $110K, expenses are $40,000, so NOI $70,000 (not including debt service). I'd be purchasing as an LLC and am looking to have the property basically qualify itself, meaning I don't want my debt/income ratio to factor in (because I would not qualify based on high debt to income ratio), have great credit and own multiple apartments and houses with nice net worth, also I have 25% to put down. What types of financing could work here? Ideally, I'd like a long term arrangement, around no more than 5.5%

[Michael Le]

Those expense numbers look really low unless this is a newer, A/B class property. Most likely you're looking at a recourse loan with 20/25 year amortization. Just start talking to some local banks to get an idea of what the offerings and requirements are.