Here is a quick primer on the exposures to loss you face running any size apartment complex.  

So in your case, they are short on the actual rent portion of their payment.

I am getting ready to, hopefully), buy my first commercial sized apartment building this year.

- what amenities doe your comps have- what floor plans does your comps have (size, number of bedrooms and bathrooms)- do they offer concessions/move in specials- what term leases do they offer (just 12 months, shorter or longer)4.

It all depends on the size/scope/area of the deal. 

Private Money comes in all shapes, sizes, flavors and at every imaginable costs/fees structure.  

(Many subcontract tax returns out).I'd be happy to review it and suggest additions that make sense for tax and accounting or buy sell, ( or suggest What ifs) purposes; however, I will not address law portions.

Does this sound right for this size loan?

Now to find someplace else to spend that cash...maybe on a deep fryer or three...Some before pics posted below.Don't have a great pic of the exterior yet; this one was creatively cropped by the seller to avoid the tarp covering a large portion of the roof..Room where the majority of the smoking was done, apparently:So that's the original carpet color...

We are a small-mid sized management company.