However, you can actually save millions of dollars in taxes by starting during the blueprint phase.Here are some examples of ways to save on taxes:For conference rooms in a hotel, Instead of installing regular walls, if you install moveable walls, the walls could be depreciated using the rules of bonus depreciation.For a multi-family apartment complex, changing the model of the bathroom exhaust fan to a variable speed could help qualify for the energy credit which is $2,000/unit.For a large apartment complex, installing a ceiling fan could allow you to qualify for 45L tax credits.For a hotel, if the porte-cochere is detached from the hotel building, it could be fully deductible in year one as it could be considered a land improvement.

Our costs are about in the middle of your range listed - if the deal is more complex (i.e. has 1031), the cost can increase another $10K - $15K.

I lived in an apartment complex close enough you could walk there.

Given the market for SFRs is so hot right now, even in August, is it worth looking at small apartment complexes? 

I think having a tenant home to "supervise" contractors just takes a lot of liability off everyone involved.In an apartment complex, usually the maintenance crew is employed and insured by the apartment owners.

They want to stay because they think the foreclosure has problems and is not legal, but will NOT get an attorney to file a court case.Sometimes the occupants are renters and they get special treatment and have rights to stay for certain periods of time, check with your state's laws, it changes.   

I was afraid that she was going to file bankruptcy when she got over loaded and the BK court would force me to let her live in my rental without rent until they settled her issues.Her debt was mostly credit cards, used the $ on trips, eating out, expensive clothes and purses and shoes. 

A 24 unit complex and 6 SFR’s. 

When the taxpayers demolished their existing principal residence, built a new home on the land, and sold it before ever occupying it, the Tax Court ruled the gain resulting from the sale of the never-occupied home did not qualify for exclusion under IRC Sec. 121 (Court case: Gates).Not sure if Gates applies here, because nothing would be added to the formerly residential land, only removed from it.

That way you can learn from an expert on how to successfully purchase a large 100+ unit apartment complex and get involved as a general partner.