If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

We are not investing out of state yet, but are setting up the guidelines and infrastructure as we speak. 

I can’t speak for your area, but rent stabilized product is going for 150-300 basis points higher than free market regarding cap rates around this area. 

In speaking to both, neither sounds 100% certain about their position.Thoughts?

My best suggestion for your team is speaking with someone who has done a similar size development to this in your region, and also a Civil Engineer. 

Generally speaking there are 2 main types of loans for investors: “Conventional” and “Portfolio”Conventional - I'll define these as loans that come from Fannie Mae and Freddie Mac (if you recognize those names).

Need to speak to listing broker here. 

I suggest setting some initial criteria, looking at census data, RE trends, and speaking with many people that have invested in the locations you are interested in.

Make sure you have your property docs in order and you can speak to the numbers of the property.Are you getting the apartment in your name or as an LLC?

You buy and and pull the cash out so then you can repeat and recycle the cash so to speak.