The form is complex and takes time, however a good real estate CPA will be able to complete it for you.You need to find a real estate CPA who is going to walk you through tax issues related to real estate and educate you on the tax law so that you can avoid pitfalls in the future.

That being said, I think he only manages apartment complexes.

There are currently 6 apartment complexes available in my market area, 2 of which are in D or worse areas, 2 are represented by REALTORS specializing in residential transactions so they're less than knowledgeable on what they're selling, and finally the last 2 are being represented by Commercial Real Estate Firms.The one I'm currently looking at has got me a bit confused.

The problem is that the administrative overhead is complex and those are not always the best vehicle for non-traditional investments.In the Solo 401k format, plan administration is greatly simplified, since you are not managing anyone else's retirement savings.  

hello,I am looking into owning apartment complexes and I was hoping i could get some insight or advice from somone on how i could start.

As an MFR owner, you will be competing with those large complexes, and you may be surprised to know how affordable some of them are.

Thank you for the insight,  I am currently in the market for an apartment complex and will heed your warning moving forward 

You are in luck,  bp has published a book about buying a small apartment complex with little money.

I have three property managers at 3 different complexes.  

This would be a long term hold for cash flow and would be a stepping stone from smaller multi's (own 13 units in 4-5 unit complexes now) to larger apartment buildings.