I’m personally more comfortable with SFR or a 4 plex vs a 50+ multi family. 

Keep personal and business finances separate.

I looking for any personal experinaces you are willing to share with me the good and the bad not wanting to look at this investment through rose colored glasses.

Some of my most successful clients have done exactly as you described they had a JOB with a REIT or developer and learned their craft before launching out.Trying to get this type of education paying  companies that just sell short term training is very hit and miss. 

fudging write-offs or collecting income under the table comes to bite you in the a@@ when it comes to financing whether that is personal or business.

@Dominique Guinnane From my personal perspective as a seller I don't care if the offer is below asking or near asking with a seller paid buydown.

I've been very cautious around advising this strategy until I see that the investor has the personal financial position to manage that type of investment.

Also, bear in mind that I have no idea about your personal situations and objectives and I don't like giving cookie-cutter advice to people.

Before buying, do an analysis of the market that lets you in on its dynamics, link the type of property that matches your set goals and is in line with the risk you can take, survey the possible financial options open for borrowing money, and finally analyze the cash flow of this business before engaging professionals in managing this apartment complex.Conduct thorough checks on possible properties, covering in-person checks, money checks, checking leases, comparing market prices, checking rents, assessing the condition of the property, and looking over legal contracts.

Do you have any equity in your personal residence?