I have an 11-unit apartment building and am having difficulty filling it to capacity (3 sometimes 4 vacancies).

That also marks him as pretty stupid.17 years later, married with four kids, still renting, still trying to sell his potential landlords on his innocence...I think you can safely assume that this man is a fool and continues to have the capacity to make very foolish life decisions.

If a taxpayer's capacity in a given activity is more akin to that of an investor, then the activity cannot be treated as participation for purposes of deducting passive losses unless the taxpayer is involved in day-to-day management. 

If it’s your first and you have capacity that might be fun for you!

We are interested in possibly working in these capacities but aren’t opposed to making a big change.

Some of the 27 inch units hold just about as much as a regular duty top-loader and will provide enough capacity for a family of 4.

"ANSWER: Having worked for several self-directed IRA custodian companies in a compliance officer capacity, I don't necessarily agree with his comments that a plan without a custodian is more likely to get audited.

You also have to determine what your capacity is work those leads.  

The trick is to convince that judge that you are in fact a corporate entity and not acting in your personal capacity (an LLC is a corporate entity).Again, the Operating Agreement can spell out operating requirements, even for a single memeber, that will help establish the way business is conducted, for example cut-off amounts for purchases.

So..To my future mentor: I want to learn how to not only find and fund good deals, but learn how to understand the capacity of each project and at the end of the day have the balls to pull the trigger and execute the good ones.