Don't ask.Show up prepared and be interested.

It was added years ago to stem the flow of inexperienced investor purchases and to get investors to consider whether they are really prepared for this business.

@Bethany PeysenTo expand your real estate portfolio, stay connected with agents and lenders, conduct thorough inspections, and prepare for longer closing times.

A good basic course is usually the one taught as a preparation for getting a real estate license.  

I understand that it might be smart to have a good balance of cash in the SIDRA in preparation of something like this, but that cash sits un invested. 

Prepare for competitive offers by getting pre-approved, having a proof of funds letter, and being flexible.

@Will B.No.. even though I normally do my own tax preparation, when it comes to depreciation recapture the IRS doesn't give you any info on how to fill it out. 

Of course, you can't protect yourself completely, but this will also help you prepare for buying the next properties a little better, and it's an exercise I generally do when I'm on a showing for a property I'm serious about so that I'm factoring this into my analysis to some degree in a "capex" reserve.Capital ExpenseRoofWater Heater x2All AppliancesDriveway/Parking LotBoiler x2FlooringPlumbingWindowsPaintCabinets/CountersStructure (foundation, framing)Components (garage door, etc.)

I know some funds that are liquidating single family to bid into CRE, there's also some funds that are divesting their real estate exposure and putting it more into other cyclical things(like oil & preparing for bitcoin) these are more macro funds not REI funds. 

Just realize that it requires many specific conditions to be met, and has much greater risk elements that you need to be prepared to potentially go wrong.