I was hoping to increase the purchase price to the appraised value and request a $11k credit for repairs.

During the great recession a few years ago, there were more renters and my rents increased.

This increases your cash on cash return.

I am thinking of investing in a syndication that is buying a 157 unit apartment project located at 3117 S 192nd St. in SeaTac, WA 98188.It appears the property last sold in 2015 for $1.8Mn….the syndicators now plan to buy this property at a price that is about 60% higher and around 10.8X trailing 12 months gross rental income or 9.7X gross income projected over the next 12 months.They plan to renovate the units and increase gross rental income by 11-13% in each of the next two years and then level off at 3% annual rental growth thereafter.

I am thinking of investing in a syndication that is buying a 157 unit apartment project located at 3117 S 192nd St. in SeaTac, WA 98188.It appears the property last sold in 2015 for $1.8Mn….the syndicators now plan to buy this property at a price that is about 60% higher and around 10.8X trailing 12 months gross rental income or 9.7X gross income projected over the next 12 months.They plan to renovate the units and increase gross rental income by 11-13% in each of the next two years and then level off at 3% annual rental growth thereafter.

@Jay Hinrichs I admit I increased my vocabulary looking up definition of hoary,  meaning old, white or ancient... but point well put and found way to Howey test (1946) for securities is broad and can be applied to  JV's, LLC and general partnerships As such, those being a sponsor of agreements should have proper legal counsel to advise them appropriately with caution,  as mentioned its all great until it doesn't go right and money is lost. 

I do think you have an idea worth exploring, but I wouldn't be surprised if there is some potential customers turned off by the look/feel of the industrial containers as opposed to traditional building so it may limit your customer base some.

The LTV can be increased to a maximum of 96.5 percent if the Borrowers are Family Members, provided the transaction does not involve:  a Family Member selling to a Family Member who will be a non-occupying co-Borrower; or  a transaction on a two- to four-unit Property.

-Customer serviceThe agents are always nice and courteous.

I'll be breaking even on mine and that is after rent increases.