raising money for apartment building

[Devin Mann]

if  i  bought a $1,000,000, 30 unit apartment building. can i have a million people invest 1 dollar to  buy it?

[Dennis H.]

If the money is collected before hand and you act as the managing member, you shouldn't have any issue. 

I know you aren't asking this, but dealing with different investors is a giant pain. A TIC structure or like structure is a good way to raise money but leads to too many cooks in the kitchen and reduced loans to value. A lender wants comfort that someone in the transaction has the capital to put in a deal if something goes wrong. If they can't find that person, the loan gets haircut.