Remove the illegals, make able-bodied people work instead of living on the government teat, and we will end up with a far healthier society.5.

@Christin Dorfling it's not if you're willing to go there as needed at least to get started - build a network, go to meetups, walk properties, meet people, etc..  

I suspect part of the reason might be because I have a no-alcohol policy for my property, which I understand might draw a lot of people away to some extent.

There are over 300k people in the greater Amarillo area so a cool event space like this could be very successful.

Also, people who are motivated to sell quickly may find there are buyers who want to buy quickly, and at a discount.  

While people will share a bathroom in say a 2/1 it is likely a harder sell in a 5/2 and the price you command is less. 

Hopefully someone with tax accounting knowledge can jump in here with more detailed analysis, but I looked at this a bit several years ago...1) You still have to pay the depreciation recapture on the sale decreasing the net benefit of this approach due to the large tax payment in the 'sale' year2) The LLC would need to not be a passthrough entity so that it can be taxed separately from you, so you have to add another tax return cost for the years going ahead3) Taxing it separately from you likely means corporate status and corp. taxation rates which are higher than yours and I've heard many times over the years to avoid titling real property as a corp...Overall from what I've seen this only makes sense in a select few scenarios, which for most people aren't in play. 

I am looking to purchase a residential or commercial multi family in the Sherman/Dennison TX area. I am also open to partnering on a transaction.  Can anyone suggest and agent or property manager that can help me with...

We lend up to 75% of the ARV but most people are buying and rehabbing well below that from the investors I have been working with.

During difficult economic times, fewer people tend to take vacations.