This deal came through Partner Driven's local network in Windsor, NC.

Have you discussed the strategy with your CPA? 

I’m on deal #9 and have just started to have a network big enough to start getting information on off market deals.

It helps a lot with networking on here.Other than that, be a sponge and soak up as much content to learn the game.

Bigger Pockets is a great place for education and networking and is full of great content.I recommend that you check out the following resources:1.

@Emeka OkekeIt's great to see your commitment to learning and networking—those are key to success in real estate.

Syndication Reporting IssuesMissing Form 8918 for reportable transactionsInconsistent investor disclosuresRequired registrations skippedWhat Doesn't Actually Matter:(Despite What Your Uncle's CPA Says)Special AllocationsNormal promote structuresStandard waterfall provisionsTypical developer promotesReality: Unless extremely aggressive, IRS rarely caresTechnical DocumentationMinor §704(b) gapsCapital account glitchesTechnical allocation languageTruth: Unless hiding something biggerProperty Value AllocationsNormal basis step-upsTypical appreciation splitsStandard promote calculationsReal World Example:🏢 100-unit apartment complex4 partners, $5M dealDeveloper promote structure= Zero IRS interestSame Deal With Red Flags:🏢 100-unit apartment complexHidden partner arrangementsArtificial loss allocationsUnreported debt shifts= IRS AttentionPractical Protection Steps:Basic Documentation✅ Clean operating agreement✅ Economic substance✅ Partner contributions tracked(Don't need War & Peace complexity)Economic Reality✅ Allocations match economics✅ Real money movement✅ Actual partner participationClean Reporting✅ Consistent K-1s✅ Required forms filed✅ Clear communicationThe "Sleep Well" Test:Can you explain your structure to an IRS agent without sweating?

The networking was the best part... just learning what everyone is doing and hearing what is working for them (or not) was super valuable.

Looking forward to building a strong network and creating win-win partnerships!

Seek out local real estate groups to get an idea and network around local regulations.