Right now, my wife is an on-site property manager for a pretty nice 107 unit apartment complex.

If you decide to utilize the 1031 tax code, I highly recommend using a CPA, QI, and broker that are familiar with this type of transaction as it is a very complex tax code.  

I could sell my houses and have a good chunk of seed money to buy a very small MF or partner up and buy into a larger complex.  

I've heard several people say they need to net no less than $200/door but if you're talking about a duplex that's only $400/mth or $4800/yr versuss say a 30 unit complex where the same $200/door equates to $6000/mth or $72,000/yr. 

Why is it that in schools nowadays we make our children learn 100's of years of history and complex mathematics that few outside of certain jobs will ever use?

@Joel Owens thanks for the shout-out. btw we did close on the Albany MF complex in July.

After more recent sales in the complex, I am certain that the unit would currently appraise for $117k at least.

I am currently working on an off market apartment complex in Lincoln Village, I'm crossing my fingers it will work out.

The promising news is inventory is not quite as tight as last year with the exception of medium to large apartment complexes which remain quite overpriced.What size (2-4, 6, 8, 12, 16) of property are you entertaining?  

Residential mortgages in a non-warrantable condo complex.