The seller listed three properties, a 8 room ($382,000), 12 room ($565,000 and 16 room apartment ($795,000) complexes.

In this way you dictated the timing,  found the perfect new property, kept the old property listing fresh and  can get all the benefits of the 1031 exchange - deferred tax on the gain and you don't have to recapture that depreciation which would be pretty massive at this point.Reverse Exchanges are complex and relatively pricey but not even close to a fraction of the tax hit you are facing on that property.And if you purchase more than your selling price you can actually begin a new depreciation table on the difference.

Market for great deals (direct to seller / off market)If you read The Art of the Deal - Donald Trump - the first deal he does is buy a foreclosed apartment complex with NO MONEY DOWN and then gets a partner to finance the repairs.He makes $600k on that deal over three years and then what he does with the money is really interesting:1.

Cap rate is a little more complex and you can search the site for some good discussion on cap rates.  

G) Other - complex going through renovation which may make it hard to find next tenant.3) What is one issue stopping you from taking on more properties other than finances?

I don't mind a little complexity or getting my hands dirty as I've been a contractor as well.  

More complex or different transactions probably make the picture murkier and depend on the details of your deal (see other forums for guidance there)...Leads?

My core team/partners are widely skilled in both trades and real estate, but the project will be complex and involve a number of / teams of contractors, several phases/stages, and ideally and more complicated, periods of occupancy and development in parallel.

I have heard of apartment complexes offer a basic cable for an added cost to the tenant.

Not everyone wants to live in a huge apartment complex.