Jay,You mentioned total loss on syndication deals. 

Assuming you are both working and the rentals are long-term, rental losses up to $25,000 can offset W-2 income if your MAGI is under $150,000, with excess losses carried forward.This post does not create a CPA-Client relationship.

Quote from @Jai Windish: Hey everyone,I am from Illinois and actually closer to Peoria than Champaign, but choices were limited.

You must work at least 750 hours per year in a qualified RE business.So most people who have high-earning W-2 jobs outside of real estate won't qualify.But the unique thing about RE pro status is that even if you don’t qualify but your spouse does, you can both file jointly and claim the losses from your RE investments to offset your other active income together.It's an incredibly powerful benefit if you do meet the criteria.

In addition to taking 6-9 months to close, they are also subject to (i) annual audits, (ii) annual REAC property inspections, (iii) recurring annual MIP payments on top of your interest rate, (iv) large initial deposits to the replacement reserve, (v) commercial space limitations to 15-20% EGI / 25% NRA, and (vi) less forgiving underwriting with 7.00% minimum vacancy rates when determining our underwritten NOI.

My experience currently involves but is not limited to; breach of contract, embezzlement, coercion to include extortion and blackmail, and bribery from both lender and two NEW WESTERN agents.

By diversifying, but still investing in the most promising deals, you limit the possibility of a devastating loss without limiting your upside.  

The fact of the matter is, when you sell or buy a business, you are entering into a business partnership with the person on the other end of the transaction.Yes, the partnership is limited (partial buyouts aside), but what you will be accomplishing during your time together is significant.Due diligence can take months.

But you are required to file a Schedule E in the US every year showing the total rents you received, the expenses you had against those  rents and your subsequent profit or loss. 

Last 2 years single family has continued to increase due to limited supply even as rates are where they are (which is not actually high).