City recently did a building inspection and we noticed the tenant is smoking in the unit (cigarettes and marijuana), food waste everywhere leading to building pest issues, and there are 5 people living there now (3 adults and 2 kids).

The time has come for me to start investing in real estate and before doing so i'm looking to build a strong and dedicated team of partners: agents, lenders, contractors and property managers mainly in the Cleveland area (but also open to markets within a 2-3 hr drive away) that already possess an excellent track record in their line of work and that value long term collaboration.

I’m curious what rates look like these days for a commercial apartment building around 1.5M.If any lenders could chime in or investors who have seen recent rates please share!!

Dwelling (Building coverage)The limit should be based on the Replacement Cost of the building (cost to rebuild withthe same kind and quality excluding the foundation)2.

So, if you don't know how to build financial models, there are some available that are pretty good online (adventures in CRE is a great resource).  

I'd bring island out a little more. my advice is make sure all rooms are 110 sq ft minimum. some of these look super small. we build a very similar one in our market.

Also any tips for automating this as much as possible and how to protect the property financially and property management would be appreciated.I ALMOST understand the rental arbitrage strategy if building a company scaling with say 30 + units and looking for high short term cash flow.  

Have the co-op take out a loan for 60% of building value, then charge buyers 20% of value in cash for each unit. 

That's because they aren't building any more oceans and rivers.

You’re thinking the right way—keep building, and you’ll be in a great position for that apartment building loan in 10 years.