These kinds of tax credits are political as well, but are doable for many investors.

2-Find out their business ownership/management experience, nobody wants to set someone else up for failure3-IF they don't "need" the apartment, You should advertise & secure a tenant 4 them, w/1st/Last/& security, so that potential "problem" w/both future lender & appraisal is already dealt with (read=documented INSTANT Cash flow, more appealing to buyer, & Lender), preferably w/a nice LONG lease (say 2yrs w/a 1 year extention option)4-Holding a Seller Second makes this a VERY "do-able" transaction, just need to make sure borrowerA-Has great creditB-Good ReservesC-Proven Track Record in Business (4 self or others)D-Realistic Business PlanE-The Guaranteed ability 2 make the paymentsIf they have their act together, You'll know who they are...Let me know if I can be of further help, I've arranged financing on over 200 commercial transactions, & over 50 mixed use subject properties5-& Very Most Importantly....Don't be afraid to "owner finance"..

Before this job I was a processor for a broker that dealt with subprime and my initial thinking was to do an 80/20 on a 2-4 family residence and have the tenants pay the mortgage and found some areas that it seems do-able.

I have no hands on at all.Does this sound realistic and doable???

I can't close again til after three months (doable) or I can't close again for six (NOT COOL).

So it is doable however a difficult scenario.

Now I do agree that in much of the Midwest and Texas, where appreciation has been minimal over the last 10 years, cash flowing on properties is still very doable with little or no down payment.

SoBeRei,100 rentals in 10 years is VERY doable and without even 1 penny in appreciation.

It seems doable but there will be fees to pay with each membership.

Kern and Tulare County are doable, but usually you have to buy off market.I bought a SFH in North Santa Barbara County in December that met the 1% rule.