How ever, we have done land purchases, subdivisions, larger builds, etc..

Problem is the expenses, so(GSI - GSI*0.3 ) * 10 is a rational price:the 10 is a Gross Rent Multiplier and arbitrary; but reasonable range is 8-12GSI*0.3 is an assumed expense ratio of 30%; higher will be high maintenance costsso GSI * 70% * GRM of your choice = Purchase Price.If you get a GRM > 15 (I've see as hi as 19) the seller is in trouble and over extended in the debit+profits

Although, I wasn't interested they know I invest in buy & hold real estate and  as an accredited investor I had express my interest in moving beyond 1-4 unit properties and into larger 20+ unit apartment complexes.I've what they called a general outline of what they're proposing.

But for the first time in months I slept through the night knowing that we made the right choice.

Cap ex ask your accountant, in many cases you may have a choice whether to capitalize or expense a given item.  

Creative real estate was my number one asset for making deals; I had no choice, I had no money, no credit------ but I had a passion and a desire not to be poor.#2 credit card advances and credit lines later helped me control houses.

Best I can tell from previous posts on the site is that if you are having a problem with your DTI ration transfer properties to an "entity"(this is the usual word choice with little insight into what kind of entity the poster is referring to) However, when you dig a little deeper, it seems to be that even if you own property in an LLC if you sign a personal guarantee (which they pretty much always make you do* it all falls to you in individual, and therefore counts against your personal DTI ratio, which at least for this, seems to defeat the purpose.* it seems if you have an LLC with 2 years of tax returns, you can actually have the business get the mortgage, and not have to sign a personal guarantee.

The deal becomes far more palatable with a larger spread.I'm not overly concerned with making a killing on this first deal (although obviously it wouldn't hurt), I really am looking at it as an opportunity to get some hands-on experience, and to enhance my ability in assessing repair costs and my knowledge of the local market.

I frequently have a group of single students wanting to rent my larger houses together and I tell them up from about my requirements.  

Have faith in your choice to pursue and absorb as much info as possible and then "TAKE ACTION" .