Sometimes larger companies will have each manager manage maybe 50-150 or so units him/herself and be responsible for most all aspects of management. 

You can get conventional financing on those and build valuable skills then go after larger buildings as you grow.- Read the ABC's of Real Estate Investing by Ken McElroy- Find a mentor that has done multiple deals and is willing to help you evaluate deals that you come across.Best of luck in your journey!

If they take 2 weeks to complete tasks it can be another week to get the Draw. 

While I do like the benefits of small multi-family, one thing I am struggling with is whether or not to focus on taking advantage of the 3-4 unit buildings that qualify for the currently low FNMA financing or to venture into larger buildings. 

You will likely need larger equity into the deal, pay higher rate and lose your fixed term. 

That way he could get a larger chunk of money upfront and not pay taxes.

If this continues to occur on a larger scale, I'll wager $1000 on this being heavily regulated in the future especially with more and more inexperienced investors jumping into apartment syndication. 

They ended up needing to remove and replace 2 of the larger windows. 

It is a small town about an hour away from a larger affluent/growing community; Bozeman, Montana.  

This is very helpful for larger projects especially