Have you spoken, with the current Management Company, to ascertain if there is any existing maintenance that have been deferred such as roof replacement, window replacement, major electrical and plumbing systems, etc.?

I'm wondering if here is a way to purchase the property in a unique way or zone it any differently to increase yield.

I have access to off market deals and also use a system to track and purchase sitting MLS deals.

We have a number of clients that we have funded and continue to fund that uses the B.R.R.R.R (Buy, Rehab, Rent, Refinance, Repeat) system that Brandon Turner talks about all the time and like Eric said Brandon's book Low/No Money Down Investing is a great also.

Not only will you save money but you will gain an understanding of the work that goes into a flip so that as you develop your team and systems later, you'll know which jobs you'll want to keep doing (if any) and which parts you want to hire out.As an example, I typically do the initial clean out and removal of old light fixtures and appliances so I can get a good feel for what all the house needs. 

you don't necessarily have to install submeters try looking into RUBS (Ratio Utility Billing System) and see if these companies work with the size of multifamily you want to purchase.  

Hello Dave,For now I'm visiting properties, trying to understand the system and building a team of specialist to assist in building inspection, appraisal, construction...what about you ?

Once we get our finances under control (had to put a whole new heating system last fall, frozen pipes, and lead removal has set us back about $35K in the last year so always plan for the unexpected!!)

Our plumber ripped out an entire galvanized system and replaced with Pex for just over $2k.

They fall apart fast if they are not pushed through the banks' systems and all deadlines must be met promptly.