7,500.000 for 124 apts

What would it take for a couple to get 7,500,000 for 124 apts at a college that is 97% leased with 97,040 coming in monthly for rents? How many private investors would have to go in with them?

Depends on the appraisal and management of the property. Are rents in line with market rates? You can usually find 80 - 85% loans of appraised value. If the market value of the property is actually $9,375,000, you can swing a no money out of pocket transaction. Also depends on the seller’s motivation to get out of the property and their willingness to help you qualify.

$60,500 per door is pretty steep, but I’m in the rural south.