I imagine if I claimed the roof last year when I replaced my rental roof, they would kick me out by now.

Not sure how this helps, but they seem to have a system they like to follow, and their LLCs hold general troughs of investments, i.e. all syndications go in ABC LLC, all direct holdings go in XYZ LLC, etc.From protecting your liability that may arise from an action taken by the syndication, I can't imagine you would create any real protection there.  

Imagine the 2nd property is a 4plex, each unit can be rented $1500/unit of 75% =$1125 x 4 units =$4500 worth of income to offset your that 2nd property.

And so would the rest of the Soutwest, which could then claim it's higher (and rightful) claims to the Colorado supply.Basically so many moving parts and ways to deal with the climate issues, both those that are real and those that are imagined.

I look at every single item in the pro forma and imagine that it is complete BS, and see if I can challenge it.

Since my portfolio is small, I imagine it shouldn't be too bad.

Imagine having 10 separate accounts just for 10 properties.

Can you offer tips that aren’t going to produce properties that are on every list imaginable?

Given size and likely complexity of this type of building, I would imagine you are looking at close to $100k.  

In that example, I was imagining that the investor made upgrades and improvements AFTER closing, either with their own funds, a personal loan, credit cards, etc.