I’d like to have a couple 8-12 unit assets under my belt before tackling the bigger assets where its easier to get Fannie Mae non recourse funding (>$775k loan).

Plus I wanted to get my partner in on this one so when we go to tackle the next (hopefully) bigger one we’re both more experienced .

One piece of advise I would give is don't try to tackle everything yourself.

Just guidelines to help you get to your end goal. 1, 2, and 3 are crucial but everything else tackle it in your own way and process.

Good luck, whether you're able to tackle this guy or the next!

I think you have realized one of the issues and it is very good to tackle it. 

My general advice would be to get skilled at one aspect of this business and have some consistent revenue coming in before you try to tackle another type of real estate investing. 

@Mary Mitchell welcome and it seems you may already know a more than enough to tackle your goal!

Then I worked on improving and actively enforcing the rules and regulations: Trash all over the place, smoking in building, dumpster, parking at the property was just wild and even dangerous.Simultaneously I tackled deferred maintenance items.

This is spelled out in my lease as the ONLY way rent can be paid.Given your strategy, you just may end up with an empty building on January 1st (or, worse yet, some non-paying holdovers you need to evict) - not ideal timing as there are less people looking for apartments that time of year (at least here in the NE).If the above paragraph gives you pause, you could keep everyone as is, and tackle the unit with the rent farthest from market rent (or biggest PITA tenant) with a new lease and rental rate.