In fact it took me several months to get up the confidence to solicit him for his business as I was suffering from an overwhelming inferior complex as a result of my reverence for both his title and expertise.

A unit similar to this one (same complex) is listed for $170k.

Sorry @Ned CareyI have a large multi family complex that me and one of my investors are looking at going in on together. 

Interesting things on our wish list include:Project outside the City of SD (neighboring city SD County)Large apartment complex project (6+ units)Small retail commercial (strip mall type property)Industrial commercial (warehouse type)HOA creationNon-urban development

In real estate I plan on doing this by holding SF property for rentals and also apartment complexes.

Take a look at my thread "Diary of a New Construction Project" to get an idea of the complexities of new construction.

Every time I come to town to check up on the property I bring him a bottle of Beringer White Zinfandel, and he lets me know everything that has been going on in the complex while I was away, and gives me a little more history on the buildings.

There can be more complexities to it and it is good to consult with a tax advisor/CPA firm about the most advantageous way to set things up.

Save the financing and mortgages for larger projects, like the 40 unit complex that comes up.

Sad story of the Loss Payee micro managing the restoration, but Lost Rents coverage was sweet during the process.As I have a 6-unit complex, the mortgage would have still been paid and just zippo for profits for that year as a result, but - - what would be your status for 12 months of no rents?