Best of luck to all you out there.How much did you pay for these 3 buildings initially and how many years did it take you to earn the money to pay for them?  

How can I best find undervalued properties in desirable locations? 

Consult someone who actually knows what they are talking about/does this for a living, but most of your tax savings are only going to offset the earnings of the partnership rather than one of you individually.

Is it better to have a job or business that is doing well, then funnel the money into larger projects, if my desire is to be one of the main GP for like 33-100 unit multifamily projects?

Also, they ONLY earn the credits if their rent for months 2-4 is paid on time. 

The BEST method for real estate investing is very simple: increase earnings, reduce expenditures, save, and invest from your own funds.You should focus on increasing earnings and learning how to manage your budget.

I would keep it in a high interest bank account might as well earn as much gain as you can no matter how small it is.However I think some debt pay down would be great not to the point where you are not liquid enough to Jump at another opportunity or can’t make a major repair when it arise.

We’re excited to learn more about the area and would love some guidance from those with experience in this market.Here’s what we’re looking to understand:Best Neighborhoods: Which neighborhoods in Queen Creek are considered the most desirable for rentals or flips?

Net earnings were about $400,000/year, so the business component of the sale was valued at about 3X, or $1.2M. 

Nevertheless I am local now and I have that real estate desire (which never went away).