Good advice Greg. Curious if you've sold that apartment complex yet or not? The only problem I see with doing what you talk about in Real Estate is you generally have to pay more for what you are replacing it with. Unless of course you are in the fixing up segment of the market and if so, then by all means...
Unrelated but I thought this was a good read, some of you may as well.
http://creativeplanning.com/news-article/the-waiting/