My goal one day is to buy an apartment complex for passive income.

What is the best way (websites, comps, calling other complexes in the area) to see if an area is a good area to invest in when looking at a small multi-family apartment complex, with a lower end cap rate, out of state?

Milwaukee is a very diverse market place - you go from the 1920s built and upscale East side with a lot of $1500+ rents to a rather rough inner city ($600 to $1000) with several troubled areas to relativley quiet 1960's urban areas within minutes ($1200 ish) - which is of course an over-simplification of the city's complexity.

Close to the property are several apartment complexes, ranging from old and subsidised, to erected within the last few years.

I think I may have found a way for multifamily investors, property managers, and apartment complex investors to capitalize on their tenant's monthly utility bills such as internet, electricity, phone, etc...

LIFO means that the last tenant/unit to move into your complex would be the first one mandatory to move out (not necessarily the unit that you want).

I close complex financing deals for a living so a part of me wonders if I could pull this off myself, so I am looking for someone who can truly add value in the negotiation and closing process (since I found the property myself).

Over 5 years this would net me $7,900 assuming no rent increased, or big expense changes.My goal is to grow my portfolio as fast as possible, and eventually get into apartment complex & storage investing.

The lender I work with the most generally puts out terms of 12% I/O for 2 years, 4 points to him, 1 point penalty for early payoff (less than a year), plus a due diligence fee to be paid upfront (amount depends on size of the loan and complexity of the deal). 

This brings to mind a funny story he told about a surgeon living in one of his complexes.