Who ever wrote this does not understand the fundamentals of taxes 

PALs fundamentally work by allowing investors to deduct depreciation from their properties, which can significantly reduce the taxable income generated by these investments.

@Kevin Si I agree with @Kory Reynolds - you want to work with a professional who fundamentally understands your business, whatever that is.

I agree some some posts here... yeah, you cannot just skip deducting expenses since that does break some fundamental rules.

Focus on the fundamentals of the real estate and stop chasing an arbitrary door count.

A lot of the fundamentals of investing (and life) are similar, but DR has its nuances.I would suggest you do not buy there until you spend some time there. 

A common mistake I observe are investors focused on unit count rather than the fundamentals of the underlying real estate that's being bought.

I would strongly agree that there are great fundamentals in the areas above but there are areas in those neighborhoods where some folks may not feel safe. 

That being said, you will need to learn the fundamentals of what constitutes a good deal..its all about the leases.  

In full disclosure, I have never really spent much time looking at RLGY or RMAX, but in the wake of disappointing results recently and significant drops in their share prices, I am curious on either the long or short side from a fundamental long term perspective, but its possible perhaps there is simply "nothing to do".On one hand, I am wondering what impact new entrants like Compass (and Redfin at the opposite end of the spectrum) are having on the large brand realtors in the eyes of brokers and agents.