I might jump in and buy another complex if its in my strategic stronghold.What area of town do you plan to focus on?

Longer term, I'd like to take all my equity & 1031 it into an apartment complex (s) or some other cash flowing properties & take an early retirement. :)Of course, all that may change as circumstances change, but if you're gonna dream, you might as well dream big!

I get that it's a fairly small complex, but sounds expensive.

Selling the property without a 1031 Exchange and taking the tax hit now.There are other more sophisticated/complex strategies available, but need to be discussed with legal and tax advisors to determine level of tax risk (if audited) and suitability for the investor.

this is in an apartment complex i manage currently.

2% rule says rent needs to be at least $240 per month I'm still trying to learn the ropes.Seems like I will need rent to be at least $575 and better yet $600 to make this thing work.Although, I think that is at the high end for 1br units in this complex

Putting the insurance issue aside, a disabled owner could easily sue over such a requirement and take the whole complex down.

Since you want to do buy-and-hold, listen to my podcast interview as I reveal my worst investing mistake (I bought a 36-unit apartment building) and how I turned it around (by buying a 100+ unit apartment complex!).

I bought my first house in PA in 2008 for 75k and just refinanced it in October using a VA loan now it's rented for 523 a month and my mortgage is 437 I owe 65k on this propertyIn May I bought a 4 unit complex in Colorado and put down 60k on a 240k property that I have only been able to rent 3 out of the 4 units for the last year so it's paying the bills but not cash flowing a lotWhen I got back from Afghanistan in June of last year I got my real estate license in Vermont because I wanted to learn how others were making deals...I'm beginning to think the money isn't in being an agent it's in having a team of agents?

A good friend of mine who manages over 3,000 units in DFW (Migneault Property Management) has given cops free units and even moved in the black panthers to cleanup some class C multifamily complexes.