Typically an ARM is from a smaller institution with much lower closing costs. 

I have worked with institutional owners $2bn portfolios and larger for 15 yrs, and cap rates rarely ever came up internally.  

Some institutions will do this and some will not.

Another source for great local info is the Community Association Institute...a national org that has chapters in many cities.

Feel free to message me directly and would love to setup a quick call about this.Chris Sorry, but I'm not going to put $30k of tenants money into a startup that is not a federally insured financial institution.

Regarding syndications, if you are an accredited investor, you can buy into institutional grade $50-125M projects with as little as $100,000 and diversify.

Whenever I am having an issue with financing, I normally reach out to local institutions.

I mentioned credit unions but I really was referring to all local banking institutions.

There are two major ways to do it through institutions like us...with a blanket or onsey twoseys.

If you want to go institutional: Argus is the choice but optioning your first born is not something I am interested in doing.Excel has all the functionality you need.