I would agree if we were talking about financial statements, but as I understand it, we are talking about tax basis reports.For tax purposes, one can use a modified cash basis when filing.

Also, take time to understand Arizona landlord-tenant laws to stay compliant and protect your investment.

Do I understand correctly that we are required to elect to be a qualified joint venture or to file a partnership return?

Someone who is getting the DOS called is doing things wrong.The guy on YouTube doesn't understand what he is doing.

This will help you understand your options and decide if it's the right time to hire a pro. 

We segregated them from any degree of competition, failure or necessity to conform to any standard.

This way, they’ll have a vested interest in maintaining high standards of management.To truly understand property dynamics and support the management team, I recommend spending time on-site.

In 1997, I don't fully understand why, the City of Denver paid the golf course owners $2mil to rezone this parcel as a "conservation easement" this was extremely restrictive zoning and meant it would essentially be destined to be a golf course for eternity 3.

You won't even try to understand it.   

@Ethan Slater here's some info we hope you find useful:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?