And once you get up to 6 or so, trade them in a 1031 for a small apartment complex, and then trade that up for a large one after 2-3 years.

For budgeting purposes, does anyone know how much a condominium renovation cost per sq. ft?

Hello,I am relatively new to the BiggerPockets forum world, but I see the value in the community and intend on being a frequent contributor.Currently, I am a full-time real investor who now owns hundreds of single family homes and duplexes and a couple of small apartment complexes.  

Like Jenkins said, location, location, location - that (and the size of the complex) were the first things that stood out to me.

To me, any prolonged vacancy will cost me money that I can't afford.Third, I lived in a complex with cheapo owners, and one year they have to collect a special assessment to keep the utilities on, because they were months behind.

I'm sure I can make it a lot more complex, but its not something I need right now.

Here's the situation: I bought a 16-unit complex in Fresno in May.

This 4 plex resides in a neighborhood that has a total of 8 4plexes on one street and two or three 6+ small complexes all within the same block.

We have also considered a smaller, 6 to 10 unit apartment complex.

Can I sell three separate SFH in that time-frame and then roll it into an apartment complex for example?