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. 

I'm very interested in apartment complexes and have been trying to learn as much as I can about investing in them.

We will able to make light to medium renovations and have additional team  members available for more complex renovations

lol, it's that God complex that they all got.

When I got started I fell into this trap of trying to create all this complexity and then realized it was not worth it at all and all it did was create chaos and add more costs.

I’m a huge fan of keeping things simple since it takes me longer to understand complex topics, especially taxes.

I know CA investors buying in Dallas and San Antonio, specifically apartment complexes and an Austin investor (who lives there) buying land to build retail.

I don’t tend to do much plumbing drawings, especially when it get complex or extensive. 

@Brad Herb Investing in a syndication via a Self-Directed IRA (SDIRA) offers tax advantages but comes with fees and limitations:Advantages:Tax Benefits: Gains grow tax-deferred (Traditional SDIRA) or tax-free (Roth SDIRA).Avoid Penalties: Keeps funds in the IRA, avoiding early withdrawal penalties.Diversification: Adds real estate syndications to your retirement portfolio.Disadvantages:Fees: Setup, custodian, and administrative fees can reduce returns.UBIT: If the syndication uses debt, income may be subject to Unrelated Business Income Tax (UBIT).Complexity: Strict rules; all income/expenses must flow through the SDIRA.Illiquidity: Syndications are long-term, locking up funds.Use an SDIRA if the investment is significant and the UBIT impact is minimal, especially with a Roth SDIRA for tax-free growth.Remember that RE, outside of retirement accounts, provides the biggest tax benefits.This post does not create a CPA-Client relationship.

—can also be acquired on an all-cash basis, but your initial outlay will be a lot higher, and leasing cycles will be longer and more complex than single-family.