hiya, Is it possible to own a apartment as a landlord and rent it out?

No.

(not to my knowledge)

Not under normal game mechanics.

You could use editing tools to make the game-generated landlord look like the landlord sim and to credit him with the value of his rents once a week. To do this honestly, though, you'd also have to find a way to estimate the expenses of maintaining the property; and you'd have to pay attention to keep the relationship of the landlord sim with the tenants congruent with the relationship of the tenants to the actual landlord. You'd have to find your own comfort level on that.

If you want to simulate a landlord renting out part of his own house, you could move in sims who are playables and use dorm doors or even just locked doors; but that really works best with a boarding house arrangement, people renting rooms and eating family-style in a communal kitchen. And you'd have to decide how you wanted finances to work, because in that case there's only one household and only one household funds pool. I'd find it a pain in the neck tracking each individual tenant's income so they could take it all with them via cheats when they leave.

There is a mod out there that lets profit from lots go to a specific Sim. I forget the name, and I haven't used it, but I know some people use it to simulate owning an apartment complex.

That's real shame, thanks for the answers guys, anyone know the mod Gummilutt mentioned?

Not off the top of my head, but if you post in the WCIF (Where Can I FInd?) Forum, somebody'll be along who does.

You might want to take a look at Simlogical's Lot Income Rights Mod, as it allows you to profit from Apartment Lots, Hotels, or Dorms.

Not sure if this is exactly what you are looking for, but hope it helps.

Thanks everyone, I will try those mods.