Periodic 1031 exchanges when appreciation stalls out, or performance goes down, or trapped equity is costing you return are all great strategic moves.

There are a ton more things to go through, but start there to get some idea of how it will perform.

Books are important to maintain because it keeps track of the performance of the partnership not only for one year but over several years.Partners normally have the right to inspect the books.Will the accountant you work with either maintain the books for you or help you make sure its done correctly?

That market from what I can see on the few trips I made to perform due diligence is really robust and such a pretty area I can see the attraction for those working in Tech or govmit in DC. 

I agree with @Chris Seveney that a performing note would be a very good starting point.

One of the things many say is that you must intend to perform on a purchase agreement or it could be fraud which is BS.

Small multifamily, up to 4 units (at least to start), then graduate into larger investments as your portfolio performs positively. 

I have a condo that has been a rental for the past 8 years, has performed well in downtown Chicago.

I definitely recommend that you seek out a Certified Cost Segregation Professional so that you are confident in the quality of the work performed and the deliverables produced.

Make sure you don't chase deals where you can't perform.