I happen to be a part of a huge network of note investors.

Quote from @Sufyan Ahmed: I have never purchased a house before as I like living in my 2 bedroom rental apartments. 

I was trying to figure out how to raise capital so that I could build to rent a 50-75 apartment unit in the next 5 years.

You don't want them to just be financially qualified but you failed to investigate how they treated their past two apartments. 

They took a long time to respond to emails.As you embark on or continue your business buying journey in the new year, I know you are going to see more opportunities come your way and experience more success if you can remember this lesson.Between 1981 and 1999 I purchased 8 businesses, while also being a part time real estate investor.  

I had to drop a rental by about 10% and an apartment building I'm invested in that we were helping to lease up we had to drop 25%.

I bought a 16 unit apartment complex that was a expense nightmare, with low rents, that I eventually gave up trying to make profitable. 

Know this: the #1 reason why landlords fail - failure to manage to the lease (source:  American Apartment Owners' Assn). 

That 2nd floor unit I would like to divided into 2 apartments.

If you're comfortable with waiting 3 years, maybe that's not a bad decision since the building has a foundation that isn't going to fall apart, but yeah it's good that you are figuring out what you need to know to be ready when the time comes.