I had the parent fill out a rental application so I could run his credit.I also paid a few dollars extra to check his criminal record (the apartment association in that area does both my credit and criminal checks for me).

Just to pick your brain a little more if possible, how would I find the fixed cost for my area (insurance, closing cost,commission,inspection fees etc..) would you recommend the same apps or something else?

How do you value a 60 unit apartment, when after clearing everyone out 1 year ago and starting over fixing units up and renting them out for $500/month.

And we also require a township inspection and certificate of occupancy on all rentals in this town so the amount of checks and balances is overwhelming.    

The cons are that the interest rates for these deals are significantly higher than the conventional mortgage loans (1-2 percent higher) which cuts into returns.Option 3) Save a larger chunk of investment cash for the down payment on a multi-family (small apartment complex) property.  

The problem is that many of the lines bringing gas INTO properties are still owned by the original company and they take their cut of the cost via what they often describe as a "pass through" charge.I recently had gas turned on at a property we were selling as required for the inspection. 

Everything seems to be much more expensive for multi family units as opposed to multi family.Also, the turnover and vacancy ratio is way higher in multi family whereas you could have the same tenant for years and years with a sfh.In a down market, selling off one sfh is fairly easy, try selling an apartment complex when nobody has cash.

@Brian Garrett - You are correct - I have not yet inspected the property but I'm assuming ~$200K or so for 8-10 buildings. 

I'm a new BP member in Tampa, recently moved back from Sydney Australia, currently looking for my next rental property and have set a goal of 18 months to my first apartment complex.On my off time I am a homeschooling mom of 3 little ones who enjoys reading non fiction, canoeing and camping. 

Hi everyone, I'm evaluating an opportunity to participated in a syndication for a mid-sized apartment complex as a limited partner.