I get a leasing fee ( equal one months rent) and 5% of the collected rent.. however I get no pay for raised rents ( which I determine and raise yearly) nothing for repairs or work done to the apartments. so its basically the 5% and leases.. and since I took over we went from 30 % vacancy to we are at full capacity with a wait list, and I raise the rents by almost 70% in the last 5 years. ( yes you read that right) .

My father and I are a part of their group of syndicators - pretty active with over $250M and 4300 units acquired in the last 12 months alone.  

Chatted with him last Saturday.

Im seeing lower rates on last few deals here in Chicago.

I'm at 4.5% or under on most of mine - did one last year that's at 7.25% and another DSCR (no prepayment penalty) that's at 10% (was hoping to refi this year but who knows).

I'm a new investor who's recently purchased a property in the Malibu Groves area, close to some impressive mansions.

I moved here last year and the opportunities have been plentiful.

Lastly, go to meetups and meet other building owners.

Long story short, we ended locking in a 4.75% on a 30 FRM, got $18,000 in concessions, and another $10,000 off the last contract price. 

If not, you would need to structure a creative deal by purchasing subject to the existing mortgage.And if taking over the mortgage is not worthwhile due to the condition of the property, your last option would be a short sale.Before structuring a creative deal, make sure you are guided by someone who has done it before.