https://mises.org/mises-wire/are-apartment-syndicators-incom...

I would get more details on the numbers and go through it with an experienced investor. 23% expense ratio is laughable for any apartment building, let alone an old class c product.

We've seen 3% for 100+ unit apartment complexes, but they also have onsite staff not included in the 3% management fee.Two other pricing options to properly understand:1) Fee charged based upon tenant payments or just occupancy.

On literally every corner there's a new construction project for huge apartment complexes and there's tons of inventory.

I would give her two weeks to move everything out and hand over the keys to an empty apartment.

I have experience in single family fix and flip, 1-4 family rentals, small apartments (10-30 unit), 100+ unit apartments, development, commercial retail, industrial and office.

Context matters: for some apartment buildings that compete head to head with a very similar property just down the street, this may be a good strategy.We rent premium single family homes and I have never offered an incentive.

We are excited to be a part of your investing journey in the beginning and hopefully for many years as you continue to grow. 

I am currently living in rental apartment and, I am looking for best strategy for first investment.  

The idea is to convert a multi-family building into condos; but not in the traditional sense where you separate pre-existing apartments into their own condos; but in a way where you combine the common areas of all of the apartments in that whole building, and turn the individual rooms within those apartments into condos themselves; thus transforming the hallways, kitchens, bathrooms, living rooms, dining rooms, porches, balconies into common areas of the condos.