Hey Celine, from my understanding its very difficult to grow a portfolio of short term rentals using the BRRRR method as an out of state investor.

I could likely see many things from the TCJA being made permanent, mostly procedural items like the higher standard deduction and child tax credit (Plus eliminating exemptions).

I have often stated there are two ways to make money in Real Estate....The California method and the Texas method (I certainly understand there are many more ways to look at investing but I am OVER simplifying).  

Quote from @Rud Sev: Hello,I am new to the world of syndication (LP investor) and want to understand how taxes at a high level for syndication as LP before asking individual specific questions to my CPA.Notably, I want to understand how preferred returns/cash flows are taxed, if at all, until the amount invested has been returned.

Your post is rather difficult for me to understand.

Need a lender who understands that clean title will only occur on the day of closing.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

You can't go wrong anyway but you want to have some sort of boots on the ground to get you started and understanding the area.

Homes are double story standard homes with around 21-24 Squares.

Since Joe is not a registered lender, Joe is not held to the same standards as a lender and the sale could be a wreckless and poor activity by the bank putting Bob in that situation.