Basically, a dedicated "rooming house" or 6-plex that would let me get around apartment zoning regs, commercial loans, etc... for a SFH price and financing.I realize managing 6 separate tenants would be more work than a standard family, but as recent BP podcasts and blogs have highlighted, the cash flow can be significantly better.I would eventually like to get into larger apartment investing, but trying to build a bankroll for that at first and apt cap rates are garbage right now anyways.Thoughts?

Basically, a dedicated "rooming house" or 6-plex that would let me get around apartment zoning regs, commercial loans, etc... for a SFH price and financing.I realize managing 6 separate tenants would be more work than a standard family, but as recent BP podcasts and blogs have highlighted, the cash flow can be significantly better.I would eventually like to get into larger apartment investing, but trying to build a bankroll for that at first and apt cap rates are garbage right now anyways.Thoughts?

I just don’t have the bankroll yet to buy a primary or secondary yet.....YET.

The loan amount is a big deal ($50K loan at 10% interest is not worth it without some points, $1,000,000 loan at 10% is a good amount of money).So to answer your question, I would expect 1-4 depending on loan size and somewhere between 8-12% if you aren't doing something out of the ordinary.That being said, I don't know your backstory and experience so that will be a huge factor (as well as your personal bank roll).

I want to buy and hold properties for long-term/passive income but he wants the two of us to flip a property so I can start my own bankroll and have cash to invest in future properties.

There appears to be some good things happening that way though and some big developments being considered (Chatham Park bankrolled by Goodnight).

With a sizable bankroll, monthly passive income to support me in the interim and connections in the mortgage industry, I felt very comfortable about having chosen investing in apartments as my next venture.

Who's bank-rolling tuition/room/board? 

Think about using a partner on the first couple of deals to build up your bank roll.

However, i gave this guy about 8 chances, and this isn't a wholesale deal - its a me deal, and when I'm bankrolling something, I want results.