First commercial multi. Where to start?

[Aaron Hale]

Hello All,

My contractor currently working on an SFR for me is also working on a 10 unit for another client who's looking to sell. he tells me that it is 50% occupied at $850 per unit and he'll have the rest of the units and the roof complete soon. The owner is asking $280,000.

This sounds pretty good to me but large multifamily is outside my wheelhouse. Besides the fact that my working capital is tied up in the SFR right now and I'll need to dig up a rich uncle to make this deal work, where do I start to find out if this is a good deal?

•Is there a due diligence checklist?

•Is there a way to calculate possible financing?

•If I find a rich uncle, what would be a good way to structure a loan or partnership that would be attractive to him to get this deal done?

•If my family tree is broke at the moment, what would be attractive seller-financing terms that I could suggest to the seller, at least for a short-term bridge to refinancing?

•Any other thoughts/advice are welcome.

Thanks for your help!