If it is a small complex you could use letters Unit A, Unit B, etc.

This can be quite complex and you are in essence getting taxed on a tax deferred account (defeating the purpose).As Dmitriy pointed out, having your partner use their IRA to fund the deal as a note and deed of trust will avoid this taxation to his/her IRA so all you will need is loan docs drafted and executed.

@Paul LaGrandeur definitely explore all options... investing doesn’t have to be as complex as some like to make it out to be.

Currently our vacancy rates are very low but the builders are starting to address more entry level housing plus apartments are going up like crazy (my husband is currently building a 270 unit complex and that’s only one of several) so vacancy rates can always change in the future.

I personally know people dropping everything from sfh, plexes and up to 250 units in multiple complexes due to the recent law changes.

I have a GC who recently completed 7 units for me in a 19 unit complex in Berwyn.

The more units I get, I can spread around my cost of property management, specially the more units I have in one building or one complex.

I would love to start investing in more Real Estate once I have the Cash-flow from this business but this deal was just handed to me because I Manage the complex. 

I never expected to get this far and never thought the issues would be this complex.

I'm in the process of hiring a new PM company for our 30 unit complex.