Another tract was developed into an apartment complex with 3/2 apartments renting for over $1700/mo. 

An old Chinese investor who owns about 1000 apartment units and 30 or so single family homes called me in to value his largest apartment complex in Dallas.

This is a 6 unit apartment complex with NO, HVAC (Only window units. 

In fact I don't remember the last time I "toured" an apt complex.

The Reserve, a 39-unit Apartment complex, is up on the market here in Statesboro, GA.

I saw today on the news a few apartment complexs with water up to the first floor windows which mean first floor flooded.. my experience in Katrina when I looked at a few apartment complexs there post Katrina that had flooded.. they needed to be completely vacated.. and bottom floor and some times top floor dry wall and every thing ripped out.. mold grows there like nobodys business its like living in a petri dish in that area of the country.  

The only logical reason why is 2-4 units are too small for the larger developers who focus instead on apartment complexes, and the smaller builders are use to building single family homes for resale, so there are very few builders who build them.I see this as a huge advantage because 2-4 unit properties are great rentals, and they fill the gap between single family homes and apartment complexes.

Did a land contract (seller financing)Purchase price $142,500Down payment $35,000Balance $107,500Terms: 15 year fixed at 5% balloon payment due in 3 yearsMonthly payment $850Each unit is rented currently at $650 (Market rent is $700 in this complex)Association fee is $30 per unit per month.

I would think buying a 150 unit apartment complex rehabbing it, renting it, refinancing and repeating would be fairly lucrative for most high net worth individuals.

I’m looking to buy a mid size apartment complex within the next 12 months.