Consulting with a tax professional is highly recommended to ensure compliance with IRS regulations and to maximize your tax benefits.

Even if delivered vacant it can take a considerable amount of time to legally de-regulate a stabilized building and it mostly requires you to have the units vacant for a period time (no cashflow).

I'm not opposed to this strategy however, after looking into NC section 8 state rules/regulations, I have some hesitations.

This could streamline the process and align with their goal of Cousin A cashing out equity.Consulting a Tax Professional: It’s crucial to consult with a tax professional to ensure this arrangement complies with IRS regulations.

I have thought of syndication in the past, but shied away from it due to the legal fees to set it up and the regulations. 

For example, the Internal Revenue Service (IRS) has published various materials relating to tax regulations on real estate investments.Publications such as Publication 527 (Residential Rental Property) and Publication 946 (How To Depreciate Property) provide detailed information on rental income, expenses, depreciation, and other aspects of real estate investing.

I have decided to exist the NYS market due to the regulations.

Here's the link to the webinar and other docs. https://www.sml.texas.gov/news/precomment-draft-and-stakeholders-webinar-notice-mortgage-regulation-rule-review/The second is a Maryland case The Estate of H.

If you're just starting out, you may want to try renting to the general population in the area before diving into a specific niche with more rules and regulations like section 8 which may cause more time and delay. 

What if you can get in, make all those moving parts work, then they changes the regulations there?