How did you approach the deal from a financial perspective?  

Can I amortize these expenses over the next few years from a tax perspective?

From a strict buy-and-hold perspective--i.e. not taking into consideration the future marketability--should an apartment building in an SFH-dominant neighborhood command a higher cap rate at present?

I'm assuming banks will view it as a purchase and require a 20% minimum down or do they look at it from a LTV perspective?  

@Peter O'Donnell Hi Peter, thanks for giving me that perspective on relating my dancing to REI, really cool.

Interesting perspective.

marie P.that simply being colleagues may not be significant but I think it serves as an introduction and can be the start of something important.Thank you for sharing your perspectives.

What concerns me is that I don't think you're looking at this deal from the proper perspective.

THANK YOU ALL for the wonderful information and different perspectives given for all the situations presented to you. 

This post is really about getting the investors perspective on this.