In other words, I strongly believe that this is a fraud.

Nathan keep in mind not everyone is a landlord most litigation in RE is between partners and investors suing GPs etc etc. 

@Stuart Udis my thought was to spread the risk is why to partner.

Utilities will need to be in your name, and you will want to provide strong wireless internet, as well as some sort of basic streaming service like Netflix at a bare minimum for entertainment purposes. 

If you are going to invest in class C I strongly recommend you physically go visit the property and the area with your own two eyes.

@Akash Agrawal In a real estate general partnership, all partners can be on the deed while only one partner holds the mortgage.

NE Minneapolis has strong rental demand, but no area is hot in the Winter.

However, you'll minimal capex/maintenance/vacancy and the overall return after 5 years could be very strong. 

What markets have been stable for multi-family w/consistent strong rents?

Some banks and credit unions are more flexible, especially if you have a strong financial profile.