Partnership taxation can be very simple but can also get very complicated very fast, especially when you get into substantial economic effect issues.

A few things I noticed (1) you didn't include gas in your expenses (2) management expense at 6% seems low - I've used companies <10% before and I paid for it (3) billing back utilities via RUBS (Ratio Utility Billing System) is a legal, extremely economical way to bill tenants their fair share on a master metered property, however, make sure your state statues support it and is fairly commonplace with your competition. 

This dramatically increases the economic benefit for the investor. 

Also is this idea hazardous because we could be at the end of an economic cycle?

The web site says http://fortworthtexas.gov/neighborhoods/NEZ/Promote housing, economic development and quality services in Fort Worth central city.So what does this really mean for those of us who have rentals in the area? 

You will get higher cash flow in PG county, but with properties more subject to variance in economic conditions and low to no rent growth.

And with a multifamily, your value will be tied to the returns and not so much the emotions/economics of the homebuyer market. 

Sooner or later, inventory will catch up with demand or other economic factors will level it off.

I am 19 years old, I am an Italian boy, I came to Miami alone and I have been here for 3 months, and on May 21 I will start the university here.I've been reading books about real estate, economics, motivation, and more ...

Is there any economic growth or rejuvination going on there?