@Igor Nastaskin it really depends on what street this complex is on. 

We manage a 112 unit condominium complex near coffee bluff that would be very similar to this.

I have read in-depth about using holding companies, multiple LLCs, trusts, crazy expensive liability insurance policies, etc. but wanted to explore this route because it seems less-complex and more cost efficient. 

Speak with lenders about lending on the project We did; one lender summarily dismissed it because we don't have experience with ALFs, but based off the initial description of the project, a lender who did the loan for my 24-unit apartment complex gave us a preliminary yes. 

If they disagree, they can write you an angry letter or take you to small claims court.

If you have service issues (common enough, from the time I’ve spend in L&T Court), it can take 4-5 months.

Good morning BP, I wanted to get a quick heads up posted regarding the CARES Act and restarting courts for evictions proceedings.

In general, smaller LL of smaller unit count structures have less vacancy than complexes with larger number of units. 

Small claims court will only file amounts less that $10,000.

That is more likely just a partnership and could be as simple as a legal entity to ensure fairness and clarity on how you all work together.Raising money from the public = complex and far beyond the scope that a single post can cover.