So investors who want to sign a contract on a property before it even hits the market can benefit from networking with real estate attorneys.

I do recognize the value and potential for great gains in doing a fix and flip and it is definitely on my radar.

If you can do a renovation loan with 203k or a homestyle loan to house hack a 2-4 unit multi-family, that typically has the highest potential for equity gain with the lowest cost.  

This fact makes accelerated depreciation seem unattractive as it feels like we are not getting any IMMEDIATE benefit out of his half of the depreciation expense.

Each unit is individually owned, with some owners holding multiple units.A few things I’m trying to understand better:Pros and Cons: What are the main benefits and challenges of owning multiple units in a property like this with a condo setup?

Unfortunately, we live in California so we would have to pay significant capital gains if we sell.

The account fees are minimal compared to the potential gain with most syndication offerings. 

While these losses won’t immediately offset W2 income without REPS, they can be carried forward to offset future rental income or capital gains when you sell the property, lowering your tax burden long-term.This post does not create a CPA-Client relationship.

Great Post-  I appreciate you saying what a lot of the Gurus fail to explain: that this is a long term process and in a lot of cases we don't see the benefits for years to come. 

I don't know much more specifically so ask your CPA about gift taxes (I think she could give you $17k of gift money a year without taxes) or capital gains taxes if/when you want to sell.