If you get this, then you can talk about advanced concepts like Tax advantages, Depreciation, etc.Hope this helps.

That solidified my desire to take advantage or personal properties as much as possible. 

There was a ton of hotels in financial distress in the early 90's and the founders took advantage of some unparraled changes in the tax code to put it all together.Having said that a public traded REIT is very expensive to form.  

@Paul Granneman  I saw that Bourdain show.... its a sad commentary on a once great city that is for sure... so as it relates to BP and cash flow investing... it has also created a huge opportunity for profiteers to take advantage of those that think they are buying this cute little brick bungalow only to find out   Opps not such a good idea...

Sadly many of these brokers/agents do not take advantage and invest themselves but live closing to closing.The number of units will determine what type of broker/agent you want to get help.

I realize actions seen as overly wasting your time or taking advantage of your resources would be obvious detractors, but maybe there are some other less obvious things that someone with little experience like myself may be unaware of.Thanks again for your time @Adam Wright 

Unless you gain advantage of experience(that you plan to use again) or $$$ from the partnership I would steer clear.

The first set of tenants that he chose to rent to happened to be dog owners, but my friend decided to try to turn this to his advantage by allowing dogs, but with an additional monthly charge for the pet.

My partner and I attended the Tarek and Christina El Mourssa Flipping Advantage seminar this past weekend.

And how does an investor take advantage of this changing climate?