I also want to own apartment complexes and offer student housing.

Ever managed a apartment building/complex of this size?

Rich,I was really more interested in the employee structure of the complex.

Quadruplex's are currently what's got my fancy the most, but I would also like to get into giant apartment complex's.

The situation is much to complex for anyone on here to be able to give you any specific advice.

Landlords might say that the tenant doesn't have to sign such a contract, but when 99% of local apartment complexes use the same lease language, it's hard to find a place to live without surrendering.

Of course ... it's a little more complex than my above ramble ... hence the need to see an accountant and attorney before you start.

Non-foreclosure units in the same complex have sold for $160k - $170k within the past 4 - 6 months, which indicated to me that 1) there should be equity coming in the door and 2) this is a really tough area to find units that cashflow.

I since learned from that experience when I bought my 100+unit apartment complex (which turned out to be wayyyyy better deal even though the numbers didn't look as good).You have to know your market, the building and what's going on.

This particular complex was just purchased and had a high vacancy rate.