A apartment complex is valued by the income it produces so you will need to research market rents, rehab, expenses, taxes and the 100s of other factors that go into purchasing a apartment complex.

You might be able to buy a 2-3br condo though and rent out the other bedroom(s) to school mates and they will cover most (probably not all) the costs of owning and you will have your own place to live.You can do FHA 3.5% loans on condos, but the complex has to be approved for it.  

I believe that partnering brings some complexity.

Are you working on a 300+ unit apartment complex with costs in the $120-130/SF?

My partner and I are looking to buy multi-family housing complex, in either Memphis, TN or somewhere in the Dallas, Houston or San Antonio area.

For instance with my clients we have looked at that level of 100 units and sometimes find an out of county or state PM company running the complex.

It is located in a complex where only 1 other unit has sold recently, but this unit is a 2/2 with 1178 sq ft.

Right now we are paying about $1,000 per month for a garbage dumpster at my 24 unit apartment complex, and it's pretty much always full.

This jump from multiplex to apartment complex feels more frightening the further I dig!

Currently, my residence is a 3/2.5 condo in an 18 unit complex.