I actually commend all of you, as I put myself in that category, for taking it slow. 

We will be meeting for lunch next week and I just want to make sure I have all the information needed before sitting down with him.This is actually two 4 unit complexes on the same lot so would this be considered a commercial deal? 

Looking for input from those who have actually owned multifamily property during a downturn in the market.   

However I've been doing research on it and it sounds like bamboo is actually a weed and can be I'm nightmare to deal with.

Troy Norwood , I'm actually interested in building for investment purposes.

Between the two, that is an instant ROI for your contributed dollars that is not insignificant, and probably better than the actual ROI produced by most real estate investments.The investment options and management fees associated with most company 401k plans are a negative.  

Feel free to add me to your contacts...or friends or.... connections... actually I don't know what its called, but "Yes!!

Try Bryan Dunklin, he set up my series LLC (although I haven't actually used the series yet). http://www.texasseriesllclaw.comYou can also have an experienced CPA set one up.

Once we closed, we actually rented 2 apartments back to the sellers (the units they were currently living in) for another 6 weeks.

I would actually not be managing them myself.