Even better is if you come to them with a personal financial statement, a debt schedule, and a business plan for the purchase (if you haven't identified a property, then what size, location, price you are looking for).

Look at lists of properties that are on the Sheriff Sale, and Tax Sales, as some of those could have assumable mortgages, and provide a list of potential assumable mortgages, where the owners are potentially losing their properties.David KrulacBigger Pockets Podcast guest #82  

These are reported and "retained" on IRS Form 8582.Of course, if you are unsure or would like additional guidance in determining what might fit your specific situation, please reach out to a CPA/Tax Professional who may be able to assist.

I am in search of an efficient system  to track my rental properties regarding income and expenses to make it easy for my accountant at tax time.

So far the sketchiest, but most appealing to me, are the non-accredited syndications in the unsecured business debt arena.

Taxes in these zip codes might be higher but they're great long term holds with steady appreciation.

Make sure you get your financial house in order first -- decrease debt, increase income, & maintain a good credit score.

Hey Russel,Admittedly, I do not know BAM; I am curious about what is driving your interest in/decision to invest whether its a preferred return or more back end equity, or just tax advantages.The market has definitely put some operators' projects in distress, and it is very unfortunate, but the flip side is that other operators are able to use stabilized financing to acquire these distressed assets.Our operator partners are seeing an almost 20% discount as they are acquiring assets today.

I'm a real estate agent part time to help collect some extra cash to pay down debt and invest in my first property.

See a tax advisor