I know these records likely aren't accurate because the owner is in bankruptcy from mismanaging 4 sets of complexes and pocketing profits.  

I've rehabbed and successfully flipped two apartment complexes (57 units total), bought and sold a courthouse step property, and had a few other real estate ventures that failed.

I recently inherited an apartment complex and am curious what is considered a fair rate for a good contractor?

Ideally, our plan is to continue to use leverage to our advantage in building a MFH portfolio (duplexes, triplexes, 4plexes with more rehabbing/value-add as we get more experience) using various financing sources that make sense and generating a strong cash-on-cash yearly return on our investment…and later moving onto larger projects (small apartment complexes, etc).

Hi All,My husband and I will be relocating to Florida early next year and we're interested in starting a property portfolio of apartment complexes.

That does not mean that there is an "HOA", or "Home Owner's Association", but there will be a Declaration of Condominium on file, as well as monthly assessments.

This is how I operated our complexes in the past too.  

@Jason WilliamsonFor a single promissory note such as lending to a flipper, you do not require checkbook control - and the extra cost and complexity that brings to the table.  

1) I have seen the costs for large unit apartment complexes and in So Cal they cannot achieve that.  2) I have tracked real maintenance/cap ex costs for a long time 3) I have filled out a spreadsheet on many of my RE with item replacement costs and expected life to provide an estimate for the lifetime maintenance/cap ex costs per month. 

Even without the potential family drama, this is a hard pass.You're not including CapEx (7.5%)Management will be 10-12%My math puts you at ~$125/month cash flow and 4% ROI, which is too low for me.You have additional risks due to this being a condo:HOA fees could go up at anytimeCould get hit with a special assessment and wipe out months or years of cash flowCondo rules could change to either limit renting of units to a year or two (the complex where I live does this) or too many units get rented out and it becomes difficult for buyers to get financing.