So I have spoken with a friend that manages an apartment complex minutes from mine but is a little nicer. 

To add an additional layer of complexity I am under contract to buy land and build another STR.

Hi Folks,Need some clarification on this complex topic.There is a lot of discussion on these tax nuances in BP forums, so I am happy to read any particular thread you can point me to.Basically I have a W2 (above income limits) and I am a General Partner in a multifamily deal.I have received 2 K1s from this deal (one as a GP) and another as an LP (since I put in some of my own money).Am I allowed to take the K1 losses from this deal to offset my W2 income?

Great point on the differences it can make wrt the more complex structures.

And I would probably look at the smaller houses where you can keep your unit costs down but still rent them at a higher price point relatively speaking. you are arguing one asset class. build a new hotel anywhere in America on any soil it's better than any apartment complex you can own. lower cost per sq ft than type 1 buildings and higher exit. we just ran into that and hotel is way better use after a rezoning application got declined for apartments. hotel is looking much better 

For residential - just making it more complex come tax time.

As @Kyle J. described, you're adding a lot of complexity (and closing costs) on a hypothetical. 

Hi Vincent,A fair finder’s fee or "kickback" for an off-market deal typically ranges between 1-3% of the purchase price, depending on the complexity and value of the deal.

Short-term rentals can offer higher returns but often come with more management complexities such as higher turnover and seasonality.

There are 5 other units in the same complex for sale-ours is the lowest price.