Remember, managment is there to run the day to day and you supervise on a monthly or quarterly schedule by reviewing the expenses and performance. 

You’ll be able to write off most of the quarterly payouts, which means you basically get tax-free passive income throughout the holding period.You will, however, likely owe taxes on the appreciation income you earn upon the sale of the property.

I'd recommend finding a bookkeeping service that could do this quarterly or semi annually for you if you just have a few units. 

I brought a cupboard into the kitchen on a dolly and when I entered the kitchen where the click-lock starts the weight of the dolly seriously busted a quarter-inch of the flooring due to the weight.

Did your accountant help you with quarterly estimates?

In addition to that, they can audit your books and if they determine you should have been filing quarterly estimated taxes based on when those profits were realized, but did not, they will retroactively file them for you and assess penalties and interest on them.My CPA is a former auditor with the IRS who is now an enrolled agent.Her final recommendation for anyone doing anything like this would be to find a really good tax attorney with trial privileges in tax court because they will probably need them.You definitely should seek competent paid professional advice on any scheme like this.By the way, I agree with you 100% on the government and taxes and tax avoidance is legal, tax evasion is a felony.

Erik: For apartments I usually rely on the IREM quarterly survey for apartments.

We are half way through the quarter and that number is consistent with their buying pattern in the past year. 2014Q4 was 122, 2014Q3 was 84. 2014Q2 was 61. 2014Q1 was 83.

* Second quarter growth in Panama's GDP (the economy) measured 10.1 percent, ensuring that Panama keeps its place as one of the fastest developing economies in the world.

For someone in business, the needs change about every quarter.