@Luke H.Hi Luke,  As a private money lender myself I will focus on one element of your deal---5 years is a long time to be finally paid. 

Cash invested: $65,000 Sale price: $97,000This property was a very early lesson learned in private mortgage financings for me.

I have a potential private lender, but I need to determine if this is a viable investment opportunity and explore the best financing options You posted this same thing three times - in two it was a 36 unit and in the third a 32 unit.Do you have any other details about the transaction or perhaps wish to share your initial analysis so the volunteers here can poke holes in it or tell you why you're right?

All is not lost, if you can find a seller of the apartments who is alos willing to finance the purchase for you;  Or look for a private/hard money lender.

Leverage your construction expertise to accurately estimate rehab costs and streamline renovations, and focus on financing strategies like hard money or private loans for your BRRRR deals.

They asked how we got a hold of a site from a private listing.

Short term it is difficult to make the numbers work, the cost of new construction and the time it takes to zone-plan-build are usually the main reasons why private investors stay clear.

Not sure if that's much help other than to let you know you're not alone in feeling that way as a newbie.

Feel free to call me.

Private money or family money is best to get started.