They create the team and a plan, acquire, due diligence, take care of loan products (If needed), oversee construction/renovation, hire property manager (or run in house management,) take care of accounting/taxes/K1s, deal with closing or refinancing.An LP (limited partner) just puts in the funds (after hopefully vetting the GP and team) and keeps fingers crossed while earning mailbox money. 

IMHO it is literally the easiest way for “the common person” to build immense wealth.

If I invest a multifamily through a Roth IRA, will I still receive the same tax benefits as I would with personal cash when I file my tax return?

I'd like to access this equity through a Home Equity Loan (HEL) and use it to make downpayment on another investment property purchase (12 unit bldg).I bought this 4-plex in my personal name with a conventional mortgage .

They’re often a good fit for rental properties since they’re based on the property’s income rather than your personal income.

So, if you had guests 200 days of the year, you get 20 personal use days.

With the prices, I can see why they are tempting, but, personally (after having owned a park), I would stay away if I were you.

When taking on a rehab project, do you prefer high-end properties or affordable housing?

I've personally lived in Kingsport and have years of residential construction experience and have several contacts in that area that operate At the top of their respected trades.

The seller is telling me "you're finding the usual and customary in a house this age."