I have a property package on 145 unit apartment complex.

Also, the sewage comes from an offsite pump station not owned by the complex.

I would recommend a value add play on an existing poorly managed or maintained apartment complex.

Here is a thread on a really bad house that'll probably make the one you are looking at seem like a simple project. http://www.biggerpockets.com/forums/223/topics/133...Nevertheless, the complexity of any project you are contemplating should be commensurate with your experience.  

Given the complex structures, the additional costs for licensure and compliance, and the additional record keeping and reporting requirements, along with liability for examinations, they would need to charge the associated company far more than that company would be willing to pay.

http://www.century21.com/property/620-autumn-dr--ada-oh-45810-REN019196604Any more-educated-than-my-own opinions on the listed property?  As it stands it's just below 1% mortgage to rent ratio which I know isn't great...

The apt complex I live in has an age requirement.

It's a drug infested complex in a prime location.

d) Are there apartment complexes, condominium complexes or townhouse complexes which provide such an option from a builder?

SFH,Multi's, Apartment Complex's?