To take this further, I recently tuned in to the Bigger Pockets podcast and one of the featured guests proudly stated that they are negative cash flow but that's fine because the property is expected to appreciate in 10+ years.

HI Kev, we helped a lot of luxury STR investors this year utilize the accelerated deprecation tax incentive, I would actually suggest checking out the bigger pockets featured tax preparer section and sine it's likely a considerable reduction definitely not try and do it yourself..the investment in high quality reliable tax advice is essential to any investor tool kit. 

We’d prefer to not deed their interests to 2 separate SMLLCs as this creates complexities with having to maintain multiple bank accounts, etc.

Does anyone have any experience with the cost ballpark and requirement to do this with a single residential (not multifamily complex)? 

When deciding between new construction and resale properties, consider the advantages of warranties and modern features versus potential savings and immediate occupancy.

Hello Bigger Pockets Community,I recently transitioned into specializing in multifamily real estate investments and have been immersed in learning about the complexities and nuances of this space.

These professionals can provide valuable insights and help you navigate the complexities of real estate investing.Research the market: Start by researching different markets across the country to identify areas with strong rental demand, affordable property prices, and potential for appreciation.

Typically, banks, funds, and traders will have an expectation or estimate on key economic data releases, often created through sophisticated, complex financial models.

I also know that my apt complex is in a Turkish Fund for an investor.      

Definitely get the estoppel letters and copies of existing leases.Apartment complexes change hands frequently (if judging by the "under new management" is any indication) and I can assure you they don't kick everyone out and start from scratch.