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.

When buying an apartment complex.

If you don't have a rich relative, the nature of this project requires a complex solution.   

I'm assuming this isn't a large 24 unit complex.

There is nothing wrong with any of the units and the manager does a great job with the complex. 

(large  luxury apartment complex under construction here as well).

We have a Member Managed LLC on one complex and a Syndication on another. 

Anyone have experience with building apartment complex 40+ units in Delaware?