What if you have an apartment complex with 20 units?

@Saul Vargas, to piggyback off others, sourcing a traditional SFH rental that meets your underwriting criteria will be complex due to interest rates and market conditions.

I also had horrific PMs, particularly involved with a 48 unit apartment complex in Houston.  

It is somewhat complex to try to explain on a forum, but at a high level, you (aka GP) and your family member (aka LP) would agree on how much the 2 of you would put in for the amount of equity needed (usually expressed as a %).

Or maybe even an apartment complex 20-50 units 

However, the higher initial investment, property management complexity, and potential vacancy risks can be challenging.

Quote from @Dana Yobst: Quote from @Julio Gonzalez: @Dana Yobst While it may seem like a simple concept, it's actually a very complex process that requires significant documentation as well as specific methodologies.

The proper answer is "it depends" I don't know anything about your case.I do prefer simple over unnecessary complexity.

@Eli Jerman Owning a duplex where you live in one unit and rent out the other offers significant tax benefits but adds complexity.

Quote from @Angus Brooks: Hey All-  I own a small apartment complex in a two entity LLC and am wondering what the tax implications are for a cash out refinance.