I am under the impression that folks love REI for tax advantages, but obviously I only have a loose understanding of the advantages -- or if they are really rather overemphasized by sponsors.If you had to place a number on it, would 20% be the amount that, when all’s said and done, one tends to owe the govt. in taxes on standard MF syndications?

@Jamie Derasmo I've heard a lot of stories like yours over the years and my impression is that most condominium complexes aren't managed well, whether that's due to the condominium association itself (a committee of people who have little experience in real estate and too much time on their hands to debate everything) and/or the property management company (often the good PM companies avoid dealing with condo association boards because they're a PITA, leaving the poor/mediocre ones who need the business).While I would "never say never", I personally have decided to avoid investing in condominiums unless I'm getting an incredible deal.If you do decide to go forward, make sure to check out the condominium association docs, particularly whether you'll be able to rent your unit.

Very impressive! 

Impressive!

First impressions get good tenants.

But it was impressive.

Do you think new clients would be put off by the first impression or would they be intrigued? 

If you impute the value of your time in any active investment the "returns" on your money look far less impressive. 

The numbers were undeniably impressive.

I invested all of my savings into a mentorship at my local REIA and let’s just say I’m not impressed.