Use customized leases with state-specific templates and consult a lawyer for complex issues.

Looks like the first deal I’m analyzing is a bit complex on the tier structure, so I’ll have to carefully review the cap stack and waterfall.  

In the past 3 months, I have been getting calls from several investors interested in apartment complexes.

I can appreciate your frustration and have worked with hundreds of investors over the last 20 years navigating the more complex waters with respect to Self-Directed Solo 401(k)s.

In working on construction loan financing, the lender informed me I'll need to unencumber that portion of the property (makes sense) before closing on the construction loan.I understand there to be two methods generally speaking: refinancing my mortgage and removing that portion of the property in the process OR attaining a partial release from the lender to remove that land.I *strongly* want to avoid refinancing as I have an amazing rate, but partial releases seem complex and also require a survey.

I have actually done this and can say that it is a pretty complex process with many rules.

This approach is cost-efficient and eliminates the complexities of dual-state filings.

Typically, private lenders pay anywhere from $500 to $2,000 for loan documents, depending on the complexity of the deal and the attorney’s rates.

Quote from @Daniel Stegelman: The apt. complex has unit has six 2 bed 1 baths and two 1 bed 1 baths.

"I've got this 243 unit complex right here that you can buy...