She is confident they would absorb all 40 units as there are units being rented now that only have wood heat they are so old.

I would be sure to research local costs of pool chemicals, cleaning, insurance, heating costs before taking the plunge.

I assume these are 1BR apartments, as $475/mth w/ heat paid by owner, is a very low rent, sounding like a C+ type area at best.

Well anyway Joshua Dorkin, I'm putting my money where my mouth is and hoping that the marketplace elements of the site come in handy and function well; as for the education/advice, I'm sure that will be worth the $.

Underwriters and loan officers, investors making loans will also consider compensating factors, those elements that may not be listed as a requirement or formal consideration that must be met but other circumstances that influence the loan decission.

Can you expand more on the elements of your deal and the specifics?

This is one reason that I look for apartment buildings WITHOUT central air/heat pump.

Example: pay the teannt's heat for the first two months of the lease.

It forced us to pay the utilities (complicated by the fact that the house was heated by oil) and then bill each tenant based on their square footage which was agreed to in the lease.

Heat was on in a couple minutes & cost me $75.