I do not know the status of these last two:Re-sales occurring 90 days or less following acquisition will not be eligible for a mortgage to be insured by FHA.

If loss were to occur on this project, who will bear the loss and how will it be split?

An accident on your job can SINK you if they come after you and they don't have the proper insurance.  

The flipside can occur as well where nobody wants to buy a house and more people become renters.Apartment rents and overall income are going to be highly affected by supply. 

If you read your "as is" contract, you will find language that the seller must maintain the property in the same condition as when your inspection occurred.  

So I have been on BP for some time connecting with other investors and it occurred to me that I never wrote an introduction post.

When things unforeseen occur, death or incapacitation of a family member, loss of job, being transferred in your job, divorce or such, you can sell and avoid the occupancy issue.If someone knocks on your door to buy it for 10K more for a rental, no, that's pretty much flipping it.

Also, in my experience when a potential tenant complains about their current landlord it is typically a re-occurring theme and usually ends up being more of a hassle for me in the long run.Just my 2 cents..

Eviction may also occur for other reasons, such as if a tenant fails to do things required by the lease other than pay rent.

As an example4 unit, 2 bed/2bathBuilt 1980$115,000 asking pricerent per unit $450/month, $1800 totaltenants pay all utilitiesMy main concern is filling vacancies as they occur in a smaller town, and of course there is the issue of lack of appreciation for the property, so it would have to be a pure cash flow move, meaning that I would want to make the deal as sweet as possible going in by offering below the asking price.