The IRS also says “you can choose to treat any debt secured by your qualified home as not secured by the home.”So... this leads to interest tracing rules which are not complicated but it begs more questions-What's the land for?

The advice of the prior two posters: "speak to your CPA" is spot on.If you are investing in syndications that have activity in states outside your own, your tax situation is sufficiently complicated to onboard a professional.

I've read several books, listen to several podcasts, but the market analysis question seems to be answered vaguely (research growth, rent comparables, job opportunities, etc) Am I making it more complicated?

@Jay HinrichsHey Jay,So it's a bit complicated.

Looks super complicated,  

This is also complicated with all the moving parts of an AirBNB, luxury hotel, condo association and a partnership with strangers. 

-AustinI switched to WAVE for a couple of my less complicated entities.  

Best to consult an attorney - these types of things can get complicated and take time to work through - don't want to be in the middle/end of a lending process and have this be unresolved/still pending

Much cleaner.Run the numbers and you’ll see that borrowing is almost always cheaper and less complicated than giving someone 50% of your profit.

(sometimes the caps bend or break trying to get them off) All in all, it's not a complicated job for a Roofer that knows tile roofs.