Recently a prominent marketer of Cleveland rental properties and property management services named Bob Prisco was exposed for being less than honest in his business dealings and posting activity here on BiggerPockets.

Thus, I am interested in suburban space near major cities, not the downtown inventory that is trading for pennies on the dollar, but often involve massive office complexes that will have huge holding costs until they get leased up. 

it really is a major pain in the butt.....at least that's my experience.  

Looking forward to being an active part of this community and learning from all of you!

Real estate involves far more than this activity depending on whether you are a developer, wholesaler, property manager, flipper, lender, broker/agent, etc.

to me I view an inspection contingency as you do it and if something is wrong you present it to the seller and say "hey fix this, reduce the price OR if it was major and really bad just walk away".If no inspection was done, then its unethical but reality is its not worth a seller to sue over it.

Here’s another: majority of coaches/gurus have never even flipped a house .Years ago when I was just starting out.

If a major expense comes about (i.e. roofing repair, hvac, etc) we would split that as well. 

Quote from @Andrew Steffens: I just use 1 card for 65 units (managed) and 1 card for 8 active rentals owned. 

Section 469(c)(7) provides an exception that allows qualifying taxpayers to treat rental real estate activities as nonpassive, enabling them to deduct losses against other types of income.