@Victor Yang I am not a CPA but you cannot take passive losses (real estate activities) to offset active income (W2) unless you make under a certain threshold from your W2 (I don't recall the exact salary).That being said if it is turnkey and you can't value add to create rent growth then probably not worth it at the price

Jay,You mentioned total loss on syndication deals. 

I think behind tenant screenings and leases there is a quality of a landlord that's also as a person that is the respect for a good person and the intelligence of making fair affairs.
For me for ten years in the past...

Assuming you don't have a mortgage that requires a certain level of insurance, you can get a stop-loss policy covering all the properties. 

The loss of priceless art, jewelry, autos, memorabilia and watches could often match or exceed the property values.

As firefighters persist in battling the blazes, many residents are left assessing their financial and emotional losses.

The tenant understands that the property of the Tenant is not insured by the landlord for damage or loss of any kind (action of third party, fire, water, theft, vandalism, storm, heat or cold, electrical damage, pests, mold, accident, etc.), and the Landlord assumes no liability for such loss.

Or just looking to offset the loss?

That being said, the only thing that being a QREP does is allow you to take losses against active income.  

That still has the 50% use requirement, but can be used to create a tax loss.