@Susanne Stauffer, If you are condominiumizing the back units you are creating new real estate that is distinct from your primary residence. 

What follows applies to Las Vegas and may apply to Coral Gables as well.While condominiums offer a lower entry price and perceived lower maintenance costs, these advantages are often outweighed by operational and financial drawbacks.Higher Tenant Turnover: Condo tenants average under two years of occupancy, causing frequent vacancy costs.HOA Fees: Steep HOA fees directly erode cash flowStiff Competition: Condos compete with apartment complexes offering premium amenities (pools, theaters, gyms, free WiFi), keeping condo rental rates low.Appreciation and Rent Growth: Condos have fewer potential buyers and renters, so they typically have slower appreciation and rent growth than single-family homes or townhouses.Uncontrolled Maintenance Risk: Close proximity leads to cross-unit maintenance nightmares (e.g., an upstairs leak damaging your unit).

Some food for thought questions that went through my mind as soon as I read your post:[1]   Are there other C, C+ homes and apartment complexes in the very near area?       

-Townhome and condominium sales were down 9.3% with 438 units sold.

I was working with Sunwest Mortgage on a DSCR HELOC and  I just found out they do not work with non-warrantable condominiums ( my condo is non warrantable).

Great question, that structure can work, but in practice it gets more complex than “just put it in a trust and you are done.”You have to look at: who’s the trustee, how distributions are handled, how the trust is taxed (non-grantor rules), and how financing/title is handled when you buy/sell from the trust. 

In the Austin MSA the developers OVER BUILT apartment complexes.  

My goal is to scale beyond single-family rentals and small multifamily units, and I'm eager to learn how investors break into the larger apartment complex deals—especially using other people’s money or with a low initial investment.I'm open to syndications, joint ventures (JVs), and partnership structures that allow for a lower capital outlay while maximizing potential upside.

If my partner and I purchase the complex, do any finances with the complex transfer over to us?

What are my best financing options to purchase a 12 unit multi-family apartment complex in Mississippi.I have excellent credit.