I'm new here and I have spent a couple of years studying real estate investing strategies.

First - you have to mention what the syndication will do as that will have an impact on how you get taxed.Given that this is a real estate forum, it is assumed that you are investing in a syndication that will invest in real estate.Most real estate syndications purchase real estate in year 1 and have a plan of selling / exiting in year 5 or 7.Often times, the sponsor will get a cost segregation study which increases the loss on the K-1 presented to the investor in year 1.This may be important as it almost guarantees that there will be no taxable income from the syndication from year 1 to the year before exit.If the syndication does well and exits at a price more than purchase, it may result in a taxable income. 

Have you completed a geotechnical study & are the soils good?

That is sort of the social studies class answer.

I’m studying to get licensed soon.

Programs that market themselves as shortcuts often cannot replace the depth of understanding that comes from study, experience, and engagement with the legal framework surrounding real estate.Consider taking time to familiarize yourself with local laws and regulations.

Keep studying and stay creative!

I will study this more.

Screening is definitely an area I studied up on beforehand, and having a large graduate student population to choose from definitely gives me more confidence.

Then, you need to study the IRS Publication 523 regarding the Sale of a Residence.