I am looking to buy a 12 unit apt building in a good area that has seven 1 bd and five 2 bd apts.   Current owner has apts at different rents and way under value for a couple.  Rents should be at $450-500 for 1 bd and...

Hope this helps to encourage you to pursue a syndication.

Scott shall not be considered active under the following circumstances: unemployed while seeking gainful employment, on disability from full time employment, retired from government employment, or other circumstances out of control and atypical to choosing to pursue his housing business endeavors as his sole source of primary income. 1.Should Scott choose to “actively” engage in housing as his source of employment as defined above, Scott agrees to give 25% (twenty five percent) of his net profits accrued from his active efforts during the period of marriage to wife in the case of a divorce.2.Payment of such percentage of funds shall be payable over 120 equal monthly payments, or equivalent to no greater than 10% of Scott’s New York State Adjusted Gross Income, verified annually with payments adjusted the 1st of November each year, whichever is less, to ensure no undue hardship to Scott or the business will be endured.

Did you guys move to Alabama to pursue this project full-time, travel back and forth, or manage this remotely?

Unfortunately, this has led to a bit of analysis paralysis, though I have a pretty good idea of what kind of strategy I want to pursue.

Nice to see someone pursuing their REI dream with focus & a strategy.

My Salary rose from an Entry level programmer of $32k in 1997 to well over $100k by the year 2000.What also helped was that I lived below my means.Combining having a good paying profession and living below my means, it allowed me to pursue Investments with Disposable money.

After college, I knew I wanted to pursue my law degree and I ended up back in CT because I missed my very large Italian family (also law school is f***ing expensive so financially it made a lot of sense).

We could still always use OPM/loans to pursue other opportunities while the project is being built. 

The Bailey Bill is a definitely a good one, although we did not pursue it as we learned about it too late.