Well what I was thinking that I could do was look for a tax deed property in a decent area (closer to one of the colleges in town) and use my business credit to acquire the property and to renovate.

Having said all of that I will finish by saying finding qualified trustworthy people to help build your business is very important.

She is moving to start a new business…  

BUT- I guess that's the costs of doing business.

Because they want the repeat business and referrals from your friends and family.

I had a very irresponsible business partner who lost his portion of the building proceeds on day trading.

Which will bring plenty of other investors and general business to the area.

The market is booming in both the business and real estate sectors.

I'm the opposite....I jut plow ahead and get myself into trouble :-)My business strategy is 'paint yourself into a corner and figure a way out'.

Before buying, do an analysis of the market that lets you in on its dynamics, link the type of property that matches your set goals and is in line with the risk you can take, survey the possible financial options open for borrowing money, and finally analyze the cash flow of this business before engaging professionals in managing this apartment complex.Conduct thorough checks on possible properties, covering in-person checks, money checks, checking leases, comparing market prices, checking rents, assessing the condition of the property, and looking over legal contracts.