Apartment complexes come with a stack of annoyances. There is a constantly revolving door of new obstacles and problems. Don't bid too low, because it's not worth it if its not profitable, whatever you think it'll take, tack on another 20%.
Especially ones that aren't stringently managed. Believe me, one day you'll show up and some dipsh!t will have installed solar lights on all the walkways around his building. I bid on my old complex last year (still living there at the time), they said it was too high, I thought I was giving them a steal. Place was a dump.