A $30k down payment is going to DRASTICALLY limit your pool of buyers.

If you plan to invest in a syndication as a limited partner (LP), ensure the structure allows for direct ownership in real estate (e.g., through a Tenant-in-Common (TIC) agreement), as partnership interests are specifically excluded from 1031 exchanges under IRC 1031(a)(2)(D).

Does anyone else do it like this and who do you use for liability insurance?

If you want to be truly passive while living abroad you could consider a DST transfer or syndication where you transition your properties to professional management and get paid as a limited partner and not have to worry about any sort of property management takes.

Here's why:The Multi-State Chess Game:• Client had properties in 3 states• Each state has different deadlines to assess taxes• Federal changes trigger automatic state assessments• Timing the response saved $45K in state taxes🏠 Real Estate Investor Pro Tip:States can't assess back taxes if their statute of limitations expires before federal changes finalize.

Focus on tax-saving strategies such as cost segregation studies and bonus depreciation to accelerate deductions.By qualifying as a Real Estate Professional (spending 750+ hours annually and materially participating), you can offset your wife’s S-Corp income with real estate losses, reducing your tax liability.

S8 can change their limits any time though so that's some instability there.

Only reason I've been doing it is to get 0% business credit card limit increases.  

Obviously they are putting more pressure on out of state investors that invest within Cleveland proper, but spreading liability to the property manager is a new twist.

The agent was getting pushed pretty hard by his brokerage to get this signed before putting in an offer, so I caved, but limited the date.