I want to do my research ahead of time and fully understand what I am investing in.

The market we are in is extremely hot for sellers, such that most duplexes have multiple offers at or above asking after only a day or two on the market, which makes it difficult to request additional information ahead of making an offer, such as the lease, yet remain competitive and timely. 

The Pub refers to the "true" depreciation recapture, i.e. depreciation taken over the straight-line method which does not exist anymore except for very old properties.What we casually call "depreciation recapture" is properly called "unrecaptured Sec 1250 gain" which is straight-line and not subject to that rule.

I'll go ahead and reach out to you in PM and we can perhaps chat there. 

I know many of us are forging ahead with notes, sensing the same opportunity you suggest.

I don't want to get ahead of myself, but the idea is to have about $1M cash invested over the next 5 years.

If the management company is excellent at their craft and they attract and retain top talent in related services (like contractors and agents, since there is a lot of overlap between PM and these fields), then the agents and contractors may be far better than the average agent in that same metro.Conversely, if that PM company is not led by a skilled business tactician they might be tempted to retain a shiza agent in their ranks so that they can capture some referral booty, with no mind to whether or not the end user client is getting good representation.I see both things happen in my market consistently, and though it doesn't create a helpful rule of thumb, hopefully it does help you in your decisions ahead.

But I have to realize I have many years ahead of me to get started, so why not enjoy it now.

I figure if I need more I can plan ahead and save up or tap into credit cards or my lines of credit.

Let’s say the State buys a home at tax sale, then I buy a house straight from the State, does that entitles me a tax deed to avoid the 3yr wait?