Small Apartment Complex Due Dilligence

[Anthony Jentsch]

We have some offers out on a few smaller apartment complexes (6-8) in FL. We are targeting Cape Coral or Tampa St Pete. My partner and I are out of state and our wheelhouse is smaller multi's so this would be the first. I am looking for a 3rd party to do financial and physical due diligence on the property. Verify rents, vendor contracts, bank statements, T12, P&L, etc. I'm having trouble finding a company that will do this. Maybe I'm looking for the wrong company. Would we just use a real estate accountant and a property assessor?

[Ryan Konen]

For due diligence on small apartment complexes in Florida, you can indeed use a combination of professionals:

1. **Real Estate Accountant**: For verifying financials like T12, P&L, bank statements, and rent rolls. They can analyze the property's financial health.

2. **Property Assessor**: To inspect the physical condition of the property, including the building, systems, and any necessary repairs.

3. **Third-Party Due Diligence Companies**: There are companies that specialize in multifamily due diligence, but if you're having trouble finding one, you could also reach out to local commercial real estate brokers who might have recommendations for specific providers in Florida.