I concluded that locking 10k of my liquidity for the length of a year or more (as a base min. limit) was not in my best interest at this time.

Estimated length of project?

I would probably consider $5-7k depending on my need/want to sell and the length of the agreement - ie less would be ok for 12-24 months.  

When looking at purchasing an apartment complex it is essential to put together a detailed deal package document that you can present to an investor or a banker.It is helpful to first take a look at a sample deal package.If you take a look at a sample deal package that has been put together by one of the larger brokerages you will see that these are serious documents that can be around 25 pages in length or more.The document can begin with photographs of the property that you plan to acquire.It should also include a confidentiality statement.This should be followed by an executive summary which introduces your company and states precisely how much money you are asking your investors for.

What if the rental is not providing cash flow for a length of time?

The amount paid out will depend on the length of time funds are used.  

Yes buying and self managing rentals us both controversial and has arms length requirements etc, non permitted transactions etc.Today doing hard money loans is harder then it sounds with reduced deal flow you'll be sitting on your cash.Leverage is possible too.

I'll check out the length of the approval.

Minimum payment is interest only, final 18 month term length starts once build is giving CO.  

Term/Leverage:What is your typical term length?