I've found that anything that cash flows (in theory) will always require rehab of some sort, pushing actual returns way down.I bought my first 2 family house back in 2013, and am ending up in the midst of a major rehab right now, after realizing that it really needs to made more up-to-date / be a comparable product to some of the new apartment rentals & complexes that have been springing up all over in LI...

I have envisioned myself owning an apartment complex with 64+ units and the potential excites me.

Just looking for a gut check from other landlords/property managers.I denied an application last week because the applicant owed ~$4K to a former apartment complex.

What's the typical payback on let's say a 100 unit complex (tenant paid electric except water heater/furnace) where you offer electric to the tenants?   

The complex needs to be large enough to support on-site staff or most money people won't buy in to the project. 

I have been a landlord since 2012; I'm up to four houses and a sixteen unit apartment complex.

I have a condo under contract that I would like to try to sell to other investors in the complex.

Then, she moved into a new apartment complex which had a separate bedroom and bathroom (deadbolt lock on her bedroom door for when she was out) for each student in a 3 bedroom/3 bath unit, with a common living room plus kitchen ... this plan was perfect for all; they could be all together or separate whenever they wanted, plus they were not arguing to get into one bathroom for date night, etc. 

I have been searching similar threads I am trying to calculate how much I should be holding back each month for reserves on a small apartment complex.  

@Frederick Jackson - I know of a few off-market apt complexes available in greensboro.