I'd be grateful for any clarity.

I would pay more attention to a banker or mortgage broker that says until XYZ happens I can't give you clarity on the rate.

Hersha had signaled that they were looking for a buyer, and the deal gave KSL an easy way to expand its growing footprint by purchasing 3,800 hotels in 25 properties.The transaction outlook continues to be muted as lack of clarity in the interest rate environment keeps buyers on the sideline.

Great move on deciding to take action, you’re probably looking for a sounding board someone in the industry that can assess your position and give advice and what direction you probably already know you should go, what next steps would be and a little clarity on everything.

Just pointing out that not all offerings are created alike and it’s a good idea to get clarity from your operating agreement and from the sponsor of any contemplated syndication investment to understand how the sponsor will be handling depreciation.

@Tre IrvinTre, I'd love help you gain some clarity as I was also once in your position and made a ton of great mistakes during my first deal, which led me to become a better investor!

If you are reading this, the biggest issue is the lack of clarity on your end.

I got a lot more clarity on the kinds of deals I should be looking for.

I'll definitely visit with my attorney about this, but thought you might be able to provide some quick clarity! 

@Tom WalrodI can only repeat what I said 4 months ago on this very thread and what @Logan Allec essentially restated: there is nothing, as of today, that answers this question conclusively - as far as we know.The key concept is that 20% deduction only applies to "a trade or business" - an extremely fuzzy concept that has not been defined in the tax law for decades and instead has been continuously litigated, with not much clarity as the result.We can guess whether or not any particular case will pass the current court-tested "trade or business" criteria, but it still does not go past the guess status.