These deals are utilizing either the SEC general exemption for private offerings, a state securities intra state exemption, or a joint venture/equal partnership purchase.  

@Robert T.I'm in CA which It's also a community for every state and we can have a wife and husband be members of an LLC and not have to file a partnership tax return.

Just make sure you educate yourself before pulling the trigger.

I'll be making ~$30k above median income for my city next year and would really like to pull the trigger on something within the next 12 months once I learn more. 

One thing that really helped me make decisions is my understanding of the macro economy and stock trading so I know when to buy when to sell and when to run away.The problem with Fed adding 4x more dollars in circulation is an early sign it will trigger asset inflation followed by the interest rate hike.

I have a partnership in a multifamily LLC (2 apartments - 50 units & 20 units) and now we are about to sell the property.

In this case I would strongly recommend using a combination of an LLC and a Land Trust to avoid triggering the due on sale clause.

if you move forward part of your partnership agreement should include who will hold the liability. 

This will give you a jump start of not pulling the trigger in Cleveland while you analyze properties and wait for the perfect one..you already have your first one, so the second will be much easier. 

Many landlords sell because they are tired of being landlords, have made their wealth and are looking to transition it into more passive investments, e.g. annuities or stocks, partnerships gone wrong etc.