Even if podunk bank does not require this clause, if Fannie does, it will dramatically impact the ability of any potential buyer to get financing to buy any unit in the whole complex.  

I know these records likely aren't accurate because the owner is in bankruptcy from mismanaging 4 sets of complexes and pocketing profits.  

I've rehabbed and successfully flipped two apartment complexes (57 units total), bought and sold a courthouse step property, and had a few other real estate ventures that failed.

I recently inherited an apartment complex and am curious what is considered a fair rate for a good contractor?

I would also google the name of the condo complex.  

Ideally, our plan is to continue to use leverage to our advantage in building a MFH portfolio (duplexes, triplexes, 4plexes with more rehabbing/value-add as we get more experience) using various financing sources that make sense and generating a strong cash-on-cash yearly return on our investment…and later moving onto larger projects (small apartment complexes, etc).

Hi All,My husband and I will be relocating to Florida early next year and we're interested in starting a property portfolio of apartment complexes.

This is how I operated our complexes in the past too.  

@Jason WilliamsonFor a single promissory note such as lending to a flipper, you do not require checkbook control - and the extra cost and complexity that brings to the table.  

1) I have seen the costs for large unit apartment complexes and in So Cal they cannot achieve that.  2) I have tracked real maintenance/cap ex costs for a long time 3) I have filled out a spreadsheet on many of my RE with item replacement costs and expected life to provide an estimate for the lifetime maintenance/cap ex costs per month.