Neither have worked hotel properties, just been residential STR owner and operators... which is way less complex than hotel management.Anyone have some thoughts for me?

Next day we replaced their broken door, installed a keyless lock on the main door to the apartment complex and are going to install cameras this week (which we planned to do).

@Jay Hinrichs that's such a good point and it drives me crazy when you see people posting that they have a 500 credit score and no money, and they are asking advice on how to buy a 48 unit apartment complex....

Really thankful to BP and it's community as I was totally ignorant about 2 months ago but now am in a position to make close deals on  multi-families/apartment complexes.

@Daniel Soovajian  Your situation is relatively complex. you own multiple properties in multiple states outside of your own state and you want tax strategy help! 

I said it's another level of complexity since you now have paperwork as trustee, and as member of the LLC.

If you are looking to do deals in that area I would suggest always measuring your deal and potential cash flow against those apartment complexes, they'll be your competition.

If the industrial company has been there for decades and has not been too bad on the history of this complex, has a good rental history; If that is clear, I would go for it.If there were delays and problems, I would make a slightly lower offer to compensate for any resale price reduction that might happen when i am ready to sell it in the future. 

What do you guys think about buying single units from an apartment complex?

As you expand you can leverage the time and talent of bookkeepers and CPA/CFOs to handle the financials of an ever-increasing complex business structure.