@Brandon Sturgill That's flavor right there!

I love how Real Estate has so many different "flavors" and each person can tailor RE investing to suit their lifestyle.

In the eyes of the law, there is no distinction between her unit and mine. 

It also make a more clear distinction of personal business  for all sorts of reasons.Dan Dietz

“The courts apparently agree that the meaning of the words "trade or business" is uniform throughout the Code provisions here considered…No court has made an explicit distinction between a "trade or business" authority under one section of the Code and another under a different section.

In the commercial mortgage space we have found that NPN investments can be divided between

(1) purchasing NPNs in which we’ve had no or minimal contact with the borrower, and

(2) purchasing NPNs in which we’ve worke...

There are two distinct things to knowHow to evaluate dealsYour market so you know what numbers to put in the formulas.You can learn #1 here.

These are 2 distinct classifications and are treated differently in the eyes of the law.

I won't go into all the details here but my point is to highlight a bit more what's happening in the industry and ensure folks know its a team sport, that there are clear distinctions between an operator / sponsor and sometimes they are one and the same, and that the person who may be raising capital should both practically and legally have a broad based role in the GP partnership. 

Heartland cities tend either to be slow, steady climbers, or stagnant for quite a while.Markets definitely have their own distinct cycles but they tend to not fall too far off of the macroeconomic cycles of the US real estate market.