It appears that you have a complex structure already suggested to you(PM company, S-Corp, Investment LLC, etc).Who suggested this structure to you and what did they say was the benefit for setting all these companies up?

Additionally, using a land trust with an LLC could offer protection without the complexity of multiple LLCs.

If you have tax planning and complex items within the return, I could see it getting there but it seems a little bit high.

If you have the resources to buy a 150 unit apartment complex then again getting that done is a year is achievable.

For your "BRRRR in Bulk" approach, you might want to explore lenders that specialize in portfolio or DSCR (Debt Service Coverage Ratio) loans, as they are often more flexible with complex financing structures like seller 2nd notes.

Maybe some affordable housing complexes. 

There may be a lease in place for $1,000 per month, but the tenant could be 3 months behind and the seller's haven't filed for eviction because they want to keep their occupancy rate high in order to sell, or just don't want to deal with the hassle of going to court.

U can have apartment complex's that are 100% subsidized and those are free market properties NOT low income govie bond issue type deals like we see here.I don't know enough otherwise, so I agree. 

Hi savvy multifamily and apartment investors, I'm a 20th-year-old college student wanting to own a multifamily/ apartment complex and have tried wholesaling.

I can justify any price (and some high fee syndicators are still doing so), if I just play with assumptions, prepay and buy down my interest rate, and hope that sub-5% cap rates will be returning in the next few years.But if you know your market and market cycle, have an idea where interest rates may be going (this is an educated guess for all of us), and then have your assumptions, you can certainly have the conversations you reference with brokers and see what their take is on pricing and if it is worth writing.Finally, I have said this before and will continue to say it, whether we are talking single family homes or 400 unit apartment complexes, off-market purchases do not make something a deal.