In Franklinton there are plenty of large projects going on that will bring massive growth to the west side of Columbus, such as the Peninsula Development, which is a multiphase project that will erect a 24 story apartment complex featuring a grocery store, a multi use office space building, and a new hotel featuring a two-story venue. 

Most of the bad noise right now is about downtown skyscrapers and REIT or Syndication apartment complexes where they played short term versus long term interest rates wrong.  

I am currently selling a 16-unit apartment complex, the first one to sell since 1998 when this buyer bought this one!

Buy and renovate the property and in 6 months do a simple cash out refinance and pull out some cash and start the REI process all over again.I am North of you up in Pinellas County West of Tampa and there are also some great places up here that might save you some cash. 

Lenders get paid at closing.Consider developing a better process to find and vet your lenders, Torianne.

I am in the same boat of either 1031 exchange or refi some of my small multi's to purchase a larger complex.

It is somewhat complex to try to explain on a forum, but at a high level, you (aka GP) and your family member (aka LP) would agree on how much the 2 of you would put in for the amount of equity needed (usually expressed as a %).

Many real estate agents dabble in property management without fully understanding the complexities involved, making it risky to work with them.

I am looking to focus my investing on the commercial space specifically value add apartment complexes.

. - Are most of your loans short-term/interest-only, or are they more complex (e.g., longer-term, amortized, require escrow, commonly modified b/c of prepayments, etc.)?