As painful as this lesson was, it made me make major operational changes.

You can 1031 into some syndication projects, but be wary as they usually require a lot of capital and you NEED to pick the syndicator/operator right. 

Some have very little involvement in the actual operations of the properties, so if you are seeking asset management help, I would be sure to ask what the mentor's level of expertise is in that area.Who would I actually be working with?  

They could be completely ignorant of how their PM operates or that the PM is losing them money hand-over-fist.Start by going to www.narpm.org to search their directory of managers.

@Camren Ritchey Depreciation is a non-operating expense.

Full transparency I am a seasoned property manager and will be opening my own brokerage soon - working as Director of Operations of another brokerage right now.

If rental losses generated by cost seg exceed income in tax year this is referred to as a Net Operating Loss and gets carried forward into future tax year.

I'm not a CPA but here is what I see as the pros / cons.PROSYou could potentially take more deductions as operating expenses. 

Feel free to connect for questions and would love to learn how others are using AI in their day-to-day business operations. 

Small owner operator and takes pride in his work.