I felt so accomplished owning (3) properties, only one is a rental though before I turned 25 and then I get on here and there are like you said 22 year olds who own huge apartment complexes and such.

These are in an apartment complex where I am looking at a particular unit for purchase.

Account Closed your post hit all marks: lien, deed, interest (premium), ownership for one question of a complex system.

I looked at what similar apartments are selling for (I've tried hunting for what other condos in my complex rent for with little success), and the range is pretty large, anywhere from $1700-2300.

Personally I would probably not invest in them unless I owned a majority share of the complex and could control the HOA.

I have an opportunity to purchase a condo -- but it's in a complex that's "cash only" because banks don't fund in the complex due to an apartment complex purchasing more than 50% of the units (or something like that).  

Swanny here and keep learning, asking questions, find people with a whole lot of RE that has been in the trenches for a while now to learn from.I just started with one little rental condo in 2011 and am approaching 122 front doors total in 8 apartment complexes and 4 little single family."

As Fed has a plan to keep increasing rates over the coming years, I don't think I can refinance this even if this condo complex has less than 50% investor owner in the near future. 

I have Zero vacancies in 8 apartment complexes and 4 single family there.  

Using a cap rate gives you better expense return on a apartment complex than a SFH when you have add-value expenses which will earn you more money than on a SFH.