Readers should seek professional advice.

And it has been gaining recognition as a vibrant, desirable place to live, especially for younger professionals and first-time buyers. 

Communicate with your tenant on tasks you are uncertain about and confirm if there are comfortable living with fixes you completed or if they would like a professional.

Read carefully any PPM for any of these syndications and identify how many times the SEC demands the following disclosures: 1) you can lose all your money 2) there are uncontrolled risks 3) there are no guarantees 4) the numbers are all hypothetical 5) the syndicator will use leverage 6) the market usually fluctuates 7) the SEC does NOT have a copy of the PPM 8) the SEC neither read nor approved the PPM 9) the SEC does not vet the syndicator 10) the offering is not registered with the SEC 11) there are conflict of interests 12) the SEC encourages you to seek professional advice Etc etc The game of real estate is based usually on investing in your own back yard and getting some reasonable leverage and if things go against you, then decide if they are issues related to the market cycles and you can hold on till the market shifts and recovers or you should just dump the project at a loss and pay off your loan.

I realized I hadn't thought about it, but it will likely be working professionals, students, or families.

I'm Chris, cybersecurity professional, and getting into wholesaling in Austin, TX and Northern California (Sacramento, SF/Bay area), all areas I know intimately. 

I got a letter and it just didn't seem professional in that there were grammar errors, etc. so it made me leery. 

The chart of accounts is structured around the Schedule E, so you simply export it and send to your tax professional.

By and large, QI's have very high ethical standards, and are sometimes overlooked as the engines of this tax saving tactic.]REPUTATION MARKERS 📊INDUSTRY STANDINGMembership in professional organizationsLeadership roles in FEAEducational contributions to the industryRelationships with major title companiesCLIENT RELATIONSHIPS 👥Testimonials from CPAs and attorneysReferences from title companiesLong-term client relationshipsTransparent fee structuresRELATIONSHIP RED FLAGS 🚩Overly familiar with your realtor/brokerKickback arrangements (illegal!)

I would have to have a walk through with a professional to give me an appropriate estimate.