I know the whole mentoring space is full of charlatans and "those who can't, teach," but I've done my due diligence and this outfit has legitimate results, so I'm comfortable moving ahead.What I'm struggling with is if I actually want to own or be responsible for a large apartment complex.

I started down this path and blew it all up after a few years as its way too expensive, way to complex and realistically did zero additional asset protection for me. 

Cost seg studies have many different price points, depending on the complexity of the property but I would budget a few thousand dollars for a property the size.Regarding material participation, you should check with your CPA or tax advisor but generally speaking yes that would be enough time.

If you buy a condo in one of these locations and rent it out short-term, does the condo complex usually handle rentals, or do you need to find a manager?

It is too complex for them.So, the IRA that owns the LLC is not also a brokerage IRA.

Lending software can be complex as if loan is a 30/369 vs actual/365 and late fees, accrued interest etc come into play it gets very technical and if it’s wrong it can be huge fines and violations.

By identifying and classifying the various components of a property, it may be possible to accelerate the depreciation of certain items and potentially reduce your tax liability.It is important to note that the rules around cost segregation and depreciation can be complex, and it may be beneficial to work with a qualified tax professional to determine the best approach for your specific situation.

Price range, what you intend to achieve in the future, or the preference of managing the two rental units are some considerations for choosing between an apartment complex versus a single house to live in for life.

We also see the struggles you face:Disgruntled customers due to communication breakdowns and scheduling mishaps.Frustrated employees missing deadlines because of complex systems.Recurring service issues stemming from a lack of standardized procedures.Unhappy technicians dealing with unclear pay structures and disputes.The constant threat of legal and financial trouble from non-compliance.You wear many hats, and there just aren't enough hours in the day.

I am going to go check them out for an OOS investor this weekend.This specific area is primarily large apartment complexes and small multis, with B class SFR subdivisions directly North of that.