Is this too much risk and too big of an undertaking for a new investor?

It would be a pretty big under taking with them still occupying the unit due to their equipment. 

If you are starting off in investing, why jump in by taking crazy risks like flipping or going for it all by getting properties that require massive undertakings only to deal with monsters once you're all finished updating the property?

A graphic of the cycle is below. 

If you ever have any commercial properties that need floorplans to help with marketing, I have a company that specializes in measuring the properties and providing graphics for the floorplans.

Google pagemaker, even looks like there's a free download.This is a page layout tool to flow text and graphics in the WYSIWYG style.

We like the idea of investing in an apartment complex but to this point, only have 3 SF rentals and lack the experience of undertaking such a large project.

I am a graphic designer for a large company but would like to slowly start some real estate opportunities on the side (long-term goal).

I've been an active reader on the forums for about the last year and I'm ready to undertake my first deal. 

I'm 30 and graduated with my DPT in the end of 2009, my wife has degrees in graphics design and english.