I am looking at loans on a 60 unit value add apartment complex within the last 3 days.  

I would probably recommend that you pull some of your capital and use it in active investments that will grow your equity very quickly like flips, BRRRRs, value add multifamily, etc. 

15 year conventional mortgage with 25% down How did you add value to the deal?

My wife (Shannon Miller) is a realtor with Keller Williams and we both are investors (we love to find these type of value-add houses for us too!).

Your house drops in value by half, rent doesn’t drop my friend so you will be in it for the long run but you won’t necessarily lose it.

We are looking for multifamily properties with some value-add opportunities.

There are some LLCs in the city successfully using partition to buy properties at a fraction of fair market value. 

AlabamaEffective Property Tax Rate (2019): 0.37%4Typical Home Value (2022): $189,9766Annual Taxes on Home Priced at State Typical Value: $702.9The current metro area population of Montgomery in 2023 is 374,000, a 1.91% increase from 2022.

It's got a $200K mortgage on it with a value of... at least $325K.

Many reputable general contractors have experience with city/township inspections and final inspections before you can sell your home; they can provide value based on experience with trades inspectors and providing more accurate estimates for project costs based on current market value of work per trade.