Except I'm a lot older now, and have a decent amount of cash with a blank slate.

I did this in the MS market and while the advantages you pointed out were true.. markets that have slow appreciation and or areas where builders can keep building for low dollar amounts like the mid west.

Hey Dina, I have a good amount of investment experience in the northwest side of Chicago.

Investment Info:Single-family residence fix & flip investment in Success.

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.

Investment Info:Condo fix & flip investment in Honolulu.

Especially if im paying a decent amount, i remember if they went cheap on the TP. maybe its just me.It's just you.

Any amount you purchase less than your sale, or any amount of cash you take out will be taxed as profit. 

Welcome to the community and be ready for a huge amount of information at your finger tips.

She is in a good position with the contractor who appears to be in direct contact with the tenants in terms of minor fixes as they arise.