For instance, my wife has a formal degree in architectural interior design and she works with investors to basically manage the project.

Are there specific lenders which are easier to work with for small multi projects?

However, given the price points in NYC, I am looking to southern CT so that I can start small for my first project.

(The picture is of a different project) 

Here is an example with some figures:My LLC total investment = $204,000Partner LLC total investment = $196,000Value of project when complete = $500,000Each LLC value afterwards = $255,000 / $249,000The plan was for me personally to go get the refinance loan because the terms are so much stronger than if I went portfolio with the LLC.Loan total = $300,000 (keeping at 60% or under of value for best terms from the bank)Partner LLC payout = $249,000My LLC payout = $51,000In this scenario, I am struggling to see how to get the remaining equity in the project into my personal name? 

This particular commercial property value is going to be based primarily on the income it can generate (actual or projected) to the buyer.

I like this option better than a Wrap because for me its just easier to understand and navigate, especially if lender calls the loan.With all this being said...I am just looking for those that have direct experience with using Lease to own to get into Multifamily and Apartment building type projects.

For that same capital, I can buy a run down project and renovate.

Some situations where they (the projects) do not go the way of making the profit as you wanted, but there are still deals out there to be had.. 

It’s a pretty big project but great opportunity.