Experience with HUD Apartment Rentals?

[Jerry M Cutrona]

Looking at an older, stabilized, C- 40 unit HUD backed project and the numbers seem to be working, depending (of course) upon the final purchase price.

Just curious if any members have HUD rental experiences (good or bad) that they would be willing to share.

...AND longer term purchase funding options...what's going to be the lower rates? - local town banks, SBA 7a or 504, HUD funding, etc. I've plugged in 80% financing @ 5%, 25 yrs for starters...loan amount approx 2+ million.

Love to get some feedback....