Once you understand how your SD market operates as I do in my SJ market, you will likely not going to invest elsewhere. 

You don't NEED a real estate license to invest, but you do Need a good education, however, having a license IS a better way to operate in real estate and I highly suggest getting one especially in the beginning. :)

The count can be used to pull our license to operate rentals. 

If you're really looking to just place the capital and have nothing to do with the decisions or operations, you're really describing more of a RE hedge fund or other professionally run fund that targets a certain geography and strategy.I know of one local to me - minimums are in the low $100k's range with minimum 1y commit and bonus payouts for larger amounts and longer commits.

:You need to get 3 years of operating statements and a historic rent roll. 

I'm hoping to purchase in Jersey City, NJ and am looking for recommendations for the following:- RE Tax advisor: ensure I'm doing everything I can to maximize my tax situation regarding the purchase and operation.- RE attorney: discuss whether or not forming a series LLC is right for me.- Financial Planner: Again, just want to make sure I'm doing everything right.I'd appreciate any recommendations you may have for people you've worked with that you like and who understand the specifics of RE investing.

But just yuck to operate them.  

The Complex is Houston TexasNet Operating Income from Mar 2014 thru April 2015 is 1,078,360.50

362 Apartment ComplexAfter repairs and new management, I think we can increase profitability 25%there are total of 6 apt complexes around, average rent for they other approx. 650.00, this complex average 555.00 month, If repairs, cosmetics are done rent can be raise to match area around to 600-650, witch will give a increase of 45- 90 dollars a unit. and 56 units that need repairs will increase there also. i figure a 2 year plan until profitability.Net Operating Income from Mar 2014 thru April 2015 is 1,078,360.50

I'm trying to setup some defaults and am stumped here.  I've been estimating Taxes as a % of After Repair Value.  How do I estimate Taxes by % of gross income?  I like the default for initial analysis.