Or buy an apartment complex?

Hi, I need help with equity in the deal for an apt complex I am working on.This is the breakdown:Investor A = $90,000 - Investor B = $20,000 - Investor C = $25,000Myself and 2 other investors are buying an apt complex and need to split the equity. 

I am a property manager for a large apartment complex.

It is complex--sounds like a subject-to, and big.  

She handles more complex RE transactions than what I needed this summer, which was reworking my lease agreements etc. 

One of our neighbors is a beautiful two-story Victorian home (maybe worth $700k) and our other neighbor is a six-unit apartment complex. 

FHA has a non-owner occupied product for larger complex's (minimum loan amount $1M)We are in an FHA loan on a 31 unit in Arizona.It is 80%LTV.35 year fixed rate (at 3.5% + PMI)35 year term....

Given the description of work noted above it sounds like quite a bit of work to perform.What many in these forums do not understand is that the building codes have become very complex and do so in every new code cycle.  

However,  I have already met with the building inspector in town and he agreed that I can put a 12 unit apartment complex on the property.  

Small apartment complexes...