Without figuring downpayment , than the properties become more attractive.

If you don't pay your mortgage, the bank will pay you a visit at your wallet.

Corporations remodeled properties and attracted the middle class.

If you haven't listened to the two episodes where he appears you probably should but you should also recognize that he's a salesman more than he's a real estate investor.4) for new investors you should seriously consider Brrrr5) multifamily commercial is an attractive asset class6) Brandon Turner is focused on mobile home parks7) David Green he's an impressive investor and frankly is more interesting than Josh Dorkin to listen to8) everyone who is interested in real estate investing would benefit by at least occasionally listening to the BiggerPockets podcast.9) real estate investing is not for everyone and it's important that you understand your goals before you start investing10) if you're thinking about investing your best bet is probably to do it sooner rather than later.11) go big or go home.There's a lot more I could say about the podcast but I will say this I really enjoyed listening to them but I don't think that any person should try to listen to them all in one year.

if I can create a product that is better the rest then I can attract the best tenants and they would be accept the utilities cost.  

If you have lots of differed maint. then that bill will hit you all one time and then it might be cheaper to just tear down and rebuild, but if you upkeep along the way it is easier on the wallet.  

Stay away from the “guru” sales-pitch events - They rarely increase your investment knowledge, they merely empty your wallet!

"Getting a deal" in the context of a syndication such as you are seeking to do is about underwriting what the income stream will look like when you are ready to sell, making conservative forecasts of the value of that income stream at the time of exit, and then finding an acquisition price that allows you to successfully execute the strategy and deliver an attractive IRR to your investors and a profit for you without taking on unnecessary risk.  

Please give me your thoughts on this deal, getting it structured, what a potential investor would like for a return, if equity in a few of the properties instead of percentage would be more attractive, and anything else you can contribute.

Seems like a very attractive alternative and a fraction of the price.