Hi guys, my name is Alain,Complete newbie to REI, but am currently reading 1 book a week to catch up with the game!

So it would depend on your market: are there more people who make 120k a year who don't want to (or can't) buy a house or people who make $9/hr who can't buy a house.Another aspect is the ability to add value to an apartment complex from raising rent, adding coin-op laundry (debatable on the profitability), rental storage, soda/vending machines not to mention the natural appreciation.

Due diligence is the name of the game for investing out of state.

@Nick Belsky great point, also some syndicators have more "skin" in the game because they believe in the investment that much

Encourage each other and assure one another that you are in it for the long game, not so that you can brag to your friends that you are investors.

Get the marketing going, get some experience on the FIND side of the game.

I am new to the game so maybe im looking at it wrong I hope not.

I'm suspecting that it does not because I don't see how a carry back would work for PALs.No, passive activity losses is a completely different game from NOL.

Also my end game is to have my own property management company, not just join a property management team under a broker.

Just outside of the city is pretty suburban if you're looking into the SFH game.