really depends on the number of units in the complex.  

I am also looking at a 34 units complex in Houston as well!

Building an apartment complex is a little different than a single family home.Good luck. 

Given the complexity of navigating the new laws portals have their hands full adhering with The '40 Act, compliance with 506(c), RIA registration, broker-dealer affiliation for OFAC, AML, Patriot Act, etc.  

This town is predominately single family homes, larger apartment complexes are beginning to be built and you do have duplexes but tri's and quads are rare!

It's really complex to explain here, but I will sum it up like this. 

I know it is ridiculously conservative, but I don't see me realistically flipping homes or managing multi-family complexes.

In these larger complexes (>4 units), owners often pay water and sometimes electricity. 

If you haven't learned the fundamentals, study those first, then work vacant house and high-equity foreclosures where motivation and complexity may not be so great.If you have some experience, you'll need to learn the probate process in your state. 

It is close to a large new apt or condo complex.