Hello all, I’m currently exploring building a small multifamily complex in a Houston, TX submarket.

That is for large complex, where similar quality and updates are expected throughout the complex.

The B- to C+ blend is a sweet spot in the suburbs.Not a ton of Multifamily inventory but they're out there to add to your portfolio. 1%-1.5% deals usually. 

I 1031 exchanged them for apartment complexes in NE Ohio too!!

These are usually used by big complexes with lots of competition around them or in bad rental markets.

Could I get a good explanation as to what owner financing is and if it’s a good idea for purchasing an apartment complex?

@James ShenTax Accountant/CPA vs RE Tax Attorney.I would hire a tax attorney if you are dealing with a complex tax situation - Transfer pricing, International taxation interpretation, or asking feedback of a very specific interpretation of a tax law.CPA/Accountant/Enrolled agent can be someone who will file your taxes, provide strategy and can represent you infront of the IRS.Your profile mentions you are in the NYC/NJ Area.

How ironic was I literally just saw they dropped the largest complex in the area $500,000 and its contingent then I come across your post not 5 minutes later.

Depending on size and complexity, you can expect to drop $25-50K on legal work.

It's a very complex specialized area.