For instance FHA will not lend on non-warrantable complexes.

I'm looking to get to know some commercial real estate brokers in North Texas who specialize in apartment complexes.    

I have five properties and am interested in expanding my portfolio in the West Philly area, preferably with multi-family and apartment complexes.  

It is a very nice apartment complex and HOAs are high.

I'm dealing with small town rural situation but lots of growth potential and I'm wondering if it would be worth it to build a new apartment complex to appeal to the highly educated well-to-do to set the business apart from the complexes built in the late 80's that is the only thing available and possibly only SFH available for rent. 

Get comps by CraigsList, Zillow and mystery shopping at the big complexes. 

As for income, instead of $800 per month for a 3 bedroom you can rent it out at $350 per bed.The downside is you have more turnover, the students do more damage than normal, they have different expectations of amenities, and it's harder to get loans for large complexes.

There were two in the complex where I had the condos, not well kept, and residents who use them tend to do their laundry, go away to do chores, and people going after will find clothes in them, and then had to clear it out.

I've read blogs and watched YouTube and of course have seen Grant Cardone go on and on about commercial apartment complexes being the end-all-be-all so it got me thinking that I was doing something wrong..

Those are mistakes typically though which are way over improved for the area.Talk to some hard money lenders and they have war stories where a complex was completely made new with amenities in a wrong area and tenants paid for 2 months and then trashed the place again.