good plan though.I can get a 10 unit efficiency apt complex for 135k but the work needed is so extensive Id be there a year.I honestly yhink the sgort sales here are what REAL people are buying,not investors.

The only other thing I could think of is there is a water tap out side of that room which is used to water the plants in that little part of complex by the management.Thanks alotAfsheen

The topic is so complex that no single source will show you how to get top position without doing work.It is a LOT OF WORK !

It's a little more complex than that.  

I am looking at an auction deal on a large apartment complex. 

The conditional term "right property" makes this oversimplification more accurate, but also opens up a big can of worms because determining what is the "right property" is very complex.

Here is the deal, over the course of the next  year or two I plan to purchase multiple small apartment complexes across the US.

Your property, (name of complex), fits the parameters (50-150 units in ((location))) of what we are looking for.

.- I usually calculate $50 each month to cover maintenance and repairs on the property (its a condominium so I dont need to pay for roofing or exterior work or I would set aside a lot more)- include any other expenses such as condo fees, Insurance, utilities, property taxes, etc. and break it down into a monthly cost (ie. $1500 property tax would be a $125/mo expense)- Ideally you want to be able to budget in an expense for property management (~8% monthly rent) but I found this didnt work for the numbers and I was willing to take it on myself so left it off my spreadsheetThe numbers are there to guide you in your expected cashflow and how much it will impact you if you're wrong will depend on your own personal situation.

I've been mainly getting by for now using rocketlawyer but the deals are becoming alittle more complex and I want to make sure Im legally doing things correctly.