@Matt Eade I'm not an attorney and this isn't legal advice, but you're not required to form an LLC in the state where the property is located. 

Quote from @Neetu Patil: For California, I highly recommend you join the California Apartment Association (CAA) where you can get forms, training, laws, legal help, etc.You are in the most regulated, litigious corner of the world where tenants can literally stop paying rent for years and prevent you from even inspecting the property.

How is it in a "simple" multifamily apartment LLC, in which everyone (syndicator included) has ownership shares, that contributed capital does not meet IRS tests for determining percentage ownership, like the Substantial Economic Effect test, or reflect the genuine economic arrangement among the partners? 

By meeting the ownership and use requirements, you may be able to avoid realizing capital gains at the time of sale. 

And I'm not sure how it'd apply to someone like Zeek, who isn't even legally allowed to buy now and wouldn't have access to the money anyway.

Looking forward to meet people with my same interests and work together! 

Would recommend house hacking or buying within a 2 hour driving distance where you can check on the property and screen and meet tenants (if self-managing). 

I love meeting people and connecting, so please don't be shy.Looking forward to being part of this awesome community.

This increase is due to a mix of legal work that has been done since the holidays and bigger economic reasons like rising interest rates and inflation. marking a cautious and important time for the market. 

https://www.rentspree.com/blog...Landlords and property managers are required by FCRA regulations to legally review a tenant’s credit report (with consent) for the sole intention of determining an applicant’s qualification to rent.