Most apartment owners are fairly sophisticated.

You're a sophisticated investor and I doubt if the risk would cause you personal hardship. 

If it doesn't close the cash flow keeps coming and I made an extra 500k.The larger properties you usually have very sophisticated sellers that simply do not go for this type of stuff.

At the same time also wear your sophisticated Borrower hat and talk about realistic options with your Bank.  

I tell those getting into commercial leasing that they really need to understand the business of the tenant, to some degree, the bigger they are, such as Wal-Mart the less you really need to know as to the details, but a small operation, mom and pop under a franchise needs more attention, it goes to the sophistication of management.The major retailer moving in next door, is this a complementary business or more competitive, having an Allied Paint store and having Lowes move in next door, so that issue needs to be clarified.

Yellow letters pretty much limit you to getting people to call, else the "aw shucks" positioning is countered by too sophisticated a system. 

Institutional loans will be viewed in that light as to compliance more than a seller financed or private money note, the bar is higher as to your dealing at a more sophisticated level.

Using these funds and getting approval is a very sophisticated process and is not easy.

I might add Join your Local REIA.Don't try anything sophisticated at first.

I still use Excel with a different workbook for planning property acquisitions but for any heavy hitting expense and income track Quickbooks is where it's at.We don't have any sophisticated tenants (in fact 3 are HUD and don't have computers) so we either receive checks, cash, or direct deposit from the local PHA therefore we haven't had a need to use credit card or online payments yet.Hope that helps.