Below is what you need to know that underwriting and programs guidelines don't tell you when considering a 223(f) apartment loan.AdvantagesHighest LTV in the marketEliminate refinance and interest rate risk with fixed rate terms up to 35 yearsLow fixed rates based on GNMA securitiesNon-recourse and assumable - makes for a great exit strategy especially in a rising rate environmentNo defined financial capacity requirementsNo geographic restrictionsNo minimum population requirementsSupplemental financing availableDisadvantagesLonger processing times - 120 days at a minimum (6-9 months is typical)Higher fees - HUD and FHA fees add to the overall cost of the loanMortgage Insurance Premiums (MIP) - Initial and annual premiumsAnnual audited operating statements requiredReplacement reserve escrows requiredHUD property inspections requiredOwner distribution restrictions and Cash out restrictions 2x a yearProperty condition is important to HUD, both during initial underwriting and over the life of the loan.

Is there a clear and exciting description? 

I use a flat fee service, because I typically do my own staging, do my own photos, write my own descriptions, and do my own negotiations.

Too vague of a description to offer any real value in estimated cost and the cost of construction is increasing significantly right now in our market.

Congrats on removing geographical barriers. 

I really like syndication for geographic and niche diversification if you also like to venture into other areas besides MF apts, but maybe self storage and mobile home parks that have good demographic and supply/demand trends playing into their favor and throw off a lot of cash.  

geographic or industry?

Oops I didn't see the first description...=)

What geographic markets are you focused on?

for a Specific Area, So I can use the Countys "Legal land Description" ( Put 2 and 2 Togethor) And Make sure i know what im puchasing.