I don't want to lose trust or fail to help my future mentor.

Request repair requests in written form even though they may mention in passing and you are next door just so you don't lose track of things.

I've seen cases where the LP backed out of the deal at the last minute, not only leaving the operator at the closing table without the capital, but causing the sponsor to lose their earnest money deposit. 

Yes, I know I will lose some of the tax benefits by doing so; but owning something out right sounds appealing to me. 

Love it.big issue for me is you lose all control when you go into a syndication..

I have a primarily stay-at-home job with excessive free time. 

They lose deals unfortunately when they are transparent  A lot of people are stupid.

(And let the excess basis be depreciated over 27.5 or 39 years, as is typically done on real estate without a cost seg.)About @Sang Ji's question "can you do the cost segregation for the new apartment complex you buy through 1031 exchange". 

Make sure your first property has no long-term cap ex coming like roofs, furnaces, sewer, etc so you know you won't get a 10k bill when you buy another one and lose profit on all across the board.

That's how it's done.....If a Contractor loses their License, Insurance or Bond, they can't legally work and they all know it.