Someone mentioned a 4000 sq ft footprint.Get the architect to do a real quick basic design.The architect can then do an estimate on live and dead load.Then do a boring on site with the geotech to make sure the soil condition can support the building.If you are lucky, no special site prep is required.If soil condition isn’t ideal, then prepare to spend money on driving piles or other types of site prep to support the building.Once you have these basic information, then you know you have a technically feasible 12 apartment building.A couple days of feasibility study won’t cut it.The geotech information will be given to civil engineer and structural engineer.They will design the proper foundation.Structural engineer will design the load bearing structures.I personally like steel beam construction and concrete but they are more expensive.Civil and structural will work to design to seismic codes.Mechanical engineer will do the plumbing and HVAC.Buildings need to breathe or they’ll rot from within.Electrical engineer will design the power distribution with appropriate protection circuits.Mechanical engineer will need to spend time to research and work on sewer connection to city or county sewer lines.If design requires digging up a public road for a tie in, it’s on your dime.There is a basic connection charge to tie in your sewer line.Check with city of Bellevue on which IBC they are using.

Best advice I can give is to screen thoroughly on the front end, if the house sits vacant for one or two extra weeks because you don't just take the first breathing person and hold out for the ideal applicant, well worth it in the long run.Best of luck!

It was breath-taking.Have you ever mistaken a buzzard for an eagle?

Nathan:An exception I will present to @Samuel Sedore's post above would be if you anticipate a large increase in valuation in one or more properties (i.e. you are buying a dump and breathing life back into it) between the time you acquire it and when you would be transferring it into a Corporation.  

Since they live and breathe real estate they often have great insight into factors that can contribute to an investor's decision.

After many phone conversations and LISTENING TO HER PROBLEMS I approached the deal from the perspective of how we could solve them for her - and she told me that it was a breath of fresh air speaking to someone who actually CARED (she has received tons of letters)...and more importantly CALLED HER BACK. 

You are jumping in over your head I think, don't even have the cash to get the financing plays a big roleHe's going to have the same amount of work on this as he would a 5 unit, might as well go big i'd say - if it cash flows basic maintenance will be covered by that and due dilligence should give him breathing room to save up for roof repairs and the like.

I wouldn't hold my breath hoping someone will come along with an offer to purchase and would hope to keep the nonperforming note in place.

Compliance and creditor avoidance are two of the major reasons to go with a living, breathing, local attorney when working on your business.

This may require you to tweak your plans a bit, but you can always find niche that fits you in almost every market.The most important thing to remember in all of this is that your investment strategy is a living breathing entity.