I don't know how the really big players stomach it.Something else I failed to mention was how the PM's are also tacking on fees on top of rent to extract even more money from our tenants. 

I do find it odd that as a fellow Realtor, you mention "fat commissions."

I watched the webinar and noted his mention of mid March.

Like @Charles LeMaireand @Justin Kane mentioned Joe Fairless and @Theo Hicks have a great book that goes over every step of the process on how to become an apartment syndicator.Are you looking for a more active or passive approach?

Brian also mentioned, him and Ron were renovating houses on a large scale and had been building a foundation for massive traction in the workforce and affordable housing market in the Mid Atlantic (my friend Brian is an active real estate investor and GSP’s lead project/property manager).

Thank you so much in advance for your help.If you have a property manager and live 100s of miles away, it’s unlikely that you meet the material participation requirements to qualify for tax benefits you mentioned. ...

I will continue looking into the areas you mentioned and appreciate your insights.

Not to mention sky-high drama factor.

Albert in his comment above already mentioned what's going on.

I signed the contract mentioned above, that initially said no closing points to lendbase when we find a loan.