A term lease has a defined time period.

The biggest piece of advice I have is to clearly define your criteria and stick to it.

There is something to be said about the investor who thinks they understand and the investor that has made their first million.. and I define that first million as liquid unencumbered cash.

This is a key component to our strategy, as I am sure it is for everyone else as well. 

Unless it’s something pretty unique, I think it may be a waste of your time to try to find an established syndication to join because they presumably already have their internal team in place and roles defined.

I am a tax CPA with clients that are residents of CA and/or have business activity in CA...I'm speaking from both experience and evidence.California FTB Pub 3556:California defines doing business as "actively engaging in any transaction for the purpose of financial or pecuniary gain or profit" (R&TC Section 23101(a)).

It is critical to define your own goal and make a reasonable plan to achieve that goal based on your own skills, knowledge, resources and risk tolerance.Do you need any of the equity in order to purchase a new property or properties?

In addition to paying the bills, our careers provide us with an identity, define who we are, give us something to talk about at the dinner table, and keep us going.

Most small self managed investors can achieve the conditions (see below):“Rental real estate activities are your only passive activities.You do not have any prior year unallowed losses from any passive activities.All of the following apply if you have an overall net loss from these activities:You actively participated (defined later) in all of the rental real estate activities;If married filing separately, you lived apart from your spouse all year;Your overall net loss from these activities is $25,000 or less ($12,500 or less if married filing separately);You have no current or prior year unallowed credits from passive activities;Your modified adjusted gross income (defined later) is $100,000 or less ($50,000 or less if married filing separately); andYou do not hold any interest in a rental real estate activity as a limited partner or as a beneficiary of an estate or a trust.”My question revolves around part f above.

If it's a proposed sale leaseback before spending tons of money you need to sign a confidentiality component and get a look at their books.Often a sale leaseback is to re-capitalize but if the business itself is struggling they could close down.