I'm happy to answer any questions you may have or connect you with local resources. 

Or would you not try to do this deal at all and wait to build up the cash position to fund the down payment, which could take 2-3 years?

Are you relocating?

They specialize in rentals which is nice. 

I'm unclear what you mean by upgrading your accounting for the syndication.We use multifamily property management software.

Thank you for your response.

However, these are the ones most commonly used:Five-of-Ten-Year Test: You must have materially participated in the activity for any five of the past ten years.500-Hour Test: You must have materially participated in the activity or activities for 500 hours in the current tax year.Step 3: Calculation your participation hoursEnsure you are tracking your participation hours.

Are you working with an agent on this one?

Have you thought about what kind of investing you want to do? 

@Dustin Seager if you are buying with hard money, then you will have to put it in an LLC.