RE syndication depreciation NO other passive RE income

[Andrew Bellini]

I am looking to break into the real estate investment group and am particularly interested in RE syndications.  I have no other passive real estate income and am a W2 employee. 

Reference depreciation, the syndication documents specify that “such loss will be available to a Prospective Investor only to the extent of the Prospective Investor’s passive income from other sources.” which I believe is straight out of the tax code.

As I mentioned, I have no other passive real estate so does that mean I can only carry over the depreciation losses until I have a second passive income source (only then I can offest that income with the paper losses) OR can my cash flow distributions gained through the syndication over the next few years be reduced by the paper loss?

Unless I understand wrong, it almost seems like I need a rental property in order to get the benefits of the depreciation from the syndication.

Thanks for the help in clarifying!