I am looking at my first real "commercial" apartment building and like most things I'm starting off small... 6 unit building, I own a 4 plex, 3 duplexes and several SFH's, so I'm not totally new to the game, but all the previous properties I bought at deep deep discounts, all foreclosed, all cash deals, all in terrible awful shape, all are now rehabbed beautiful and cash flowing very well.So this leads me to this 6 plex, its in an area I already own duplexes, I finally this week contacted the owner, turns out he's ready to sell, hes owned the property since 1981 with his brother, his brother is 10 years older then he is and can't do any of the work anymore. so...

Welcome abroad, take a deep breath and make the leap.

If one organization were to do it all, it would take a very large operation and very deep pockets.

Manhattan takes some deep pockets, lots of knowledge, and lots of foot work.

You might need them for work in the future, position you for contract/consulting work should you want to do some of this, and middle age-to-older executives could be a deep well of potential private money for you.

If we negotiate a price that is below what is owed to the bank will I still be able to wholesale the property at such a deep discount?

Zoning is next to impossible without some deep pockets to support attorney fees to fight zoning boards.

Hey Ryan, the property is great shape, hardwoods covered by carpet, newer windows etc. the house is full of stuff from the previous owner so as long as there's no crazy unexpected issues, it needs a deep clean and paint.

I'd have to pick a property up at deep deep discounts just for the brain damage of learning a new market and due diligence required.OTH, if you are a subsidiary of GE Capital and can buy 15 properties in an area, that changes things, I assume you're not in that position.Good luck!

Not sure what your financial situation is, but I can't foresee even a guy with deep pockets having much staying power running business that way.Not to mention there will probably not be significant return on your cash invested after debt service, expenses, and splitting the net 50/50.I think a better option is to partner with people who have money in their retirement accounts and use those funds to acquire the property.