Thanks Mike and Dawn.I will surely listen to podcast # 29 from Dawn.What do you guys think about condo units, like buying 1 unit in a condo complex.

I ask because I know someone personally that is currently a property manager of a complex and they do not have a real estate license. 

Fee tolerances are tighter, and in general, the entire lending process will be a bit more complex.  

I am trying to learn as much as I can to invest in apartment complexes, does anyone have advice you can give me to working on getting my first complex within a year?

There's apartment complexes and commercial space just shooting up all over Vista right now.

His family has invested in Residential Income Property in Philly for two generations but not specifically large apartment complexes.  

They assumed that the decision was based on the difference between living in a large apartment complex and buying a home valued at 80% of the median home price with a 95% LTV loan.

I know the answer will vary based on location, price-range, size of the complex etc... so perhaps a few mock scenario descriptions would be helpful.(2) One of the BP Podcasts (I believe it was between shows 1 and 70...I know that's not very helpful), the guest was talking about the very detailed and length lease agreement that he has with his tenants and that he had placed it either here on BP or his company's website.

The funny thing is I probably could not go rent a unit in a complex if they just go off credit score but I can easily get a loan to buy the whole building. 

I know this strategy is more involved and complex but I think it's more rewarding.