One of the simplest to understand is the Gross Rent Multiplier (GRM) approach.

It’s just the simplest number to show a monthly returns (CoC) calculation.

@Jacob Rosenkranz, the simplest answer is: yes, you will very likely have taxes owed. 

There are multiple ways to do these deals but this is the simplest way. 

That might be the simplest method and best for everyone's tax returns as well.

I personally believe in holding long-term properties with fixed interest mortgages as the simplest strategy that can easily be implemented with the minimum amount of risk.

Just do it right - that’s truly the simplest in the long run.

That's the simplest way i can put it, if in doubt don't, you have more to learn and brush up on, to turn those unknowns into knowns. 

I agree with Don - being an LP is the simplest way to get exposure and learn aspects of the business - how was the deal presented, underwritten, how has it performed, how does the operator handle communications, etc.

The simplest solution would be subsidize builders to put up more units.