We need to replace the HVAC system, and I believe this is a "B property". 1.

best-case, the sewer has been updated to ABS and tree roots are not a concern. 

Chris in CA  and with a current RE Broker license you May bring in up to 10 parties to a fractionlized DT / mortgage / note WITHOUT any PPM reg A reg D. the broker uses the CA real estate agencies disclosures for these transactions over 10 and yes you need to then move to some sort of PPM Reg A B C D or what have you.. this is HML i started in back in the early 80s every loan we made was fractionlized. 

I have a 22 unit building, early 70s construction, that I currently pay $8500 on (a huge increase from 7k the previous year) albeit not in AB. 

Firstly, this is a B+ property in an A neighborhood, so I can't go cheap.

Looking for recommendations for NON multi-family funds (e.g. industrial, self-storage, MHI, etc.) that have a Class A/B structure similar to Ashcroft Capital.Thanks!

Understand A/B/C class neighborhoods and what we want to invest inCheck safety/crime, schools, Check population driversCheck population growthCheck income growthCheck if the state is landlord friendly or tenant friendlyCheck regulations within each stateCheck if the properties fit the 1% rule and run analysis on numbersNarrow to 2-3 markets.

They are a B**ch to get rid of. #1 is to locate and seal ALL openings, even down to 1/4" as these guys can make themselves really small.

I own three properties here in southern Illinois in B/C class neighborhoods, but I know some people in surrounding areas that own properties in some A/B class neighborhoods.

You should be able to find a duplex in a C+/C neighborhood for that price or a single family in a B/B- neighborhood.