I agree there is some maintenance issues, I am a small time guy under 30 units right now so this would be a big undertaking, I think I will keep looking, I just can't seem to find much "for sale" in my area, I need to find better sources for apartment leads, and maybe this means meeting other apartment investors in my area.

I'm also constantly building my construction contact database, looking for new JV partners and investors, and always open to entertain new investment ideas.

The contractor I am working with wants 50% now and 50% when its done.Question#3 Do I need any money upfront to get the construction started?

I'm starting over after a divorce and now own a new construction duplex in Indianapolis.

Looked into conventional but can't finance the construction upgrades, and would need 25% down on non-owner occupy investment property + reno, or about $100k to pull it off.

We both have full time jobs and are not experienced in construction.

There is lots of building/construction going on in this area.The idea I floated to the agent is this. 10 year lease option.

I spent several years in San Francisco selling real estate, where I specialized in Lofts, Condos, and New Construction.

Stick to conventional construction at that price range.

To put another way, if the developer bears the cost of construction, maintenance and staffing of the facility at the outset, when will they be relieved of that burden?