Renting apartments can be a very lucrative venture, especially if you are able to get a great deal on the apartment building and it's in decent enough condition to get renters in right away. Apartment buildings are one of the best investment properties, since the income each month from renting usually covers the cost of the mortgage. It's a great way to invest in real estate, because it pays for itself.
Drive around your neighborhood. If you are looking to buy an apartment building, you probably want a property close to where you live. That way you can be nearby to collect the rent and to take care of any repair work that is needed. Most buildings that are for sale will have a very prominent sign in the front yard. Some will even have a Realtor's box that has fliers with information about the building.
Ask around. Before you go through any agencies, where there may be additional fees, check with people you know. Ask family, friends and coworkers. Someone may know of a place up for sale. They may even have a rental property they want to sell themselves.
Watch the newspaper. You may find listings for apartment buildings for sale in the classified ads. Auctions for buildings that have been in foreclosure will also be listed in the newspaper. This is one of the easiest ways to get a deal on a property.
Contact local Realtors. There is probably a Realtor in your area who specializes in commercial properties. She will be able to give you a listing.
Look at online realty sites. There are plenty of sites and real estate listings on the Internet. Some of them even specialize in commercial and investment properties. On most sites, you can look through the listings by city and sort by price.