This gets really complex quickly….  

With rates today you'd never cash flow.I just put an apartment complex under contract that's in a super hip area of Houston.  

@Ken Martin, I have seen something like this been done but it is a complex topic that requires input from legal (SEC and RE) counsel, CPAs and a lot of coordination across the investors.Have you looked into a DST structure?

It certainly helps mitigate some of the downside, but putting that type of deal together would be more complex. 

You want to specialize in something that can be really involved or complex (i.e. note investing, tax liens).3.

Most of my clients are high risk (meaning they often have complex medical conditions).

My family has an apartment complex and currently we do not have a website.

I really appreciate any answers I get  here  :) Generally newbies to the business start out with residential because its much less complex than commercial.

Using age as a guide to class is more accurate with garden-style Multifamily apartment complexes and that is the context of my previous answer as it is in Multifamily and commercial where you most commonly see the letter grade system.  

"Rich Dad's Real Estate Advantages: Tax and Legal Secrets of Successful Real Estate Investors" tells me that a LLC has the greatest tax and legal advantages but my CPA/tax attorney tells me that a S corporation is better because a LLC is to complex and the judges cannot understand it.