Any insights, advice, or personal experiences would be greatly appreciated!

I'm interested in the VB/VA and OK City markets (lots of family in OK now), but then again, I don't have much experience analyzing markets. 

Happy to share lessons learned from out of state managing/investing if you have specific questions. 

In my experience, 75% of the time, the tax payer doesn't have a large enough liability to justify the accelerated depreciation anyhow- depending on your income and tax bill, it might not matter at all.

Has anyone had any experience with this process?

For a truly passive experience you'd probably need to be an investor in private equity deals or be a silent partner on a project.

However, I wouldn't expect to be able to do many of these deals without quite a bit of experience.  

But would love to hear some of your Advice and / or Experience anyone has had as they've gone down this investing journey!

How can I strike a deal where they can still receive some income from the property, but I can purchase the home and make my share and eventually (1-2 years away) own the home and eventually get full profit from this 8-unit property.

Looking for success stories or other experiences , positive or negative, range of costs, etc.