It looks like you are doing an affordable build based on the cost but hard to say since you didnt provide info on the build itself such as square footage and finishes.

I do know that unless a person knows what they’re looking for and how to close, it can take a lot of leads to get a deal to the finish line. 

Full gut renovation, including but not limited to full replumb, full rewire, complete mechanical upgrades, and new apartment finishes from studs.

I’d even consider finishing the basement, just well enough for me to live down there, so I could rent out ALL the units.I’d save all my cash and look to refi the property in 1-2 years out of the FHA mortgage, so I could use it again if necessary.

I just finished reading "Set for Life" by Scott Trench.

You don't want to get a call 3 months into a project where you have lent money and hear the operator say that they ran out of money and need more money from you to finish the project or you will lose your investment.

I'm finishing up an ADU garage conversion in Downtown Sac and plan to do medium term rental for travel nurses.

Properties like the Michigan complex offer a unique entry point, combining cash flow and significant upside potential.Immediate Cash FlowThis particular property is projected to deliver 6% annual cash flow from day one, already exceeding the yield of Treasuries.Value-Add RenovationsThe property includes hundreds of units that can be upgraded to Class A finishes, justifying rent increases.

Perhaps when you get finished it is something I can help you set up! 

I'm not sure at this point if I'd like to sell the entire property as a whole when I'm finished, or sell each unit as a condo,or even keep the most or all units to rent.