So it seems like more of the passive route you’ve mentioned, would love to connect with you and pick your brain!

Based on the cursory reading of your post seems like we might be able to help your client.

Consider the following:12 unit in somewhat rural Wisconsin, 6 separate duplexes on one piece of land, priced at $849K.OM Insurance cost: $6200 (seems high)Broker proforma: $30001.25% - 1.5% rule from @Juan Vargas: $10,612 to $12,735$250/unit rule from @Gino Barbaro: $3000The WI apartment deal isn't a traditional apartment building so I tried it on one more building. 

I feel, given the circumstances in SoCal, buying out of state seems lucrative.I like your strategy of purchasing in class A and B neighborhoods.

However, they seemed to be good folks

Living in a rural community seems to present some opportunities.

Furnished finders doesn’t seem to have much traffic at this present time.

It seems to me you want to put that capital to work long term and start to learn the real estate investing business.  

Usually those apartments get rented in days and homes under contract in a week or less is what it seems like...as long as they are priced right. 

FNMA doesn't seem to think so.