Does this 330+ unit value add look like good? Any advice please!

[Cole Souza]

I am looking to get into syndication with a friend of mine who is a very experienced and successful agent(20plus years in the business) He has done a couple of syndications but it's not his niche. I have never done one. We think we have the ability to raise the money between both of our networks, and are interested in an off market 330+ unit apartment complex in Orlando that has been vacant for 4 years. some serious value add. Rehab estimates at 30k a unit put us at about 10 million cost. We could get this property for about 15 million, so 25 million all in. Does this look like a good deal on the surface? Are there any experienced Florida investors or syndicators that could give their thoughts?