It also depends how nice it is compared to the other options out there.

Depending how long your LTR was in there, you might need to fix or update a few items. 

@Eva Sha - Yes, I generally advise emerging developers there will be anywhere from 5%-8% in closing costs (depending on the size of the loan), which include lender costs/fees, attorney's fees, and title fees, plus any other consulting fees.

Also, beware that building in a location like that can be a very long process depending on where you're talking about.

For a partnership where you're providing all labor and the broker is funding the deal, a fair split typically ranges from 30-50% for you and 50-70% for the broker, depending on the value and complexity of your labor versus the financial risk they're taking.

I've also asked for the current tenant's original application.

It also depends what type of neighborhood you're buying in though as well.

It happens rarely enough that I haven’t taken the next step: to figure out how to let approved applicants tour apartments unsupervised."

This is too important and also sort of a personal question depending on your state and specific circumstance and I suspect not a one size fits all answer would suffice. 

Hey @Tom Dieringer, there is a ton and at the same time, not much at all.It really depends on the market you are in.