they're not magic.are you going to in-person / informal meetups? 

Good.PPS: When reading or listening to the smack talkers, the ones who kick when one is down…you are next if they get the chance.

Hope this helps!

I really appreciate this thread for I read everyone's comments. 

I offer this service!

Pretty easy to not check this and have a failure after you close...

.- Legal and Tax Implications: This strategy involves intricate legal and tax details.

Hi Anthony, Welcome to the world of real estate and to Austin.Wishing you all the best on this exciting journey.

Quote from @Sherief Elbassuoni: Whenever I have cash, I put it as a downpayment for a new rental.Even if you got 4-5%, this is less than inflation, so your money is loosing valueMonth over month inflation is more current information than year over year...and it has been near zero in total for the past nine months and negative for 5 of those 9 months. 

Syndication Reporting IssuesMissing Form 8918 for reportable transactionsInconsistent investor disclosuresRequired registrations skippedWhat Doesn't Actually Matter:(Despite What Your Uncle's CPA Says)Special AllocationsNormal promote structuresStandard waterfall provisionsTypical developer promotesReality: Unless extremely aggressive, IRS rarely caresTechnical DocumentationMinor §704(b) gapsCapital account glitchesTechnical allocation languageTruth: Unless hiding something biggerProperty Value AllocationsNormal basis step-upsTypical appreciation splitsStandard promote calculationsReal World Example:🏢 100-unit apartment complex4 partners, $5M dealDeveloper promote structure= Zero IRS interestSame Deal With Red Flags:🏢 100-unit apartment complexHidden partner arrangementsArtificial loss allocationsUnreported debt shifts= IRS AttentionPractical Protection Steps:Basic Documentation✅ Clean operating agreement✅ Economic substance✅ Partner contributions tracked(Don't need War & Peace complexity)Economic Reality✅ Allocations match economics✅ Real money movement✅ Actual partner participationClean Reporting✅ Consistent K-1s✅ Required forms filed✅ Clear communicationThe "Sleep Well" Test:Can you explain your structure to an IRS agent without sweating?