If you’re not using a 1031 exchange, you’ll need to account for this.Reinvestment Risk: Entering new markets and managing multiple properties may present challenges, especially if you’re unfamiliar with the areas.Alternative StrategiesBefore committing to selling, consider these options:Leverage the Equity (HELOC or Cash-Out Refinance):With a 3.1% loan, selling might not be the best first move.

What is the time commitment of owning a laundromat?

Since you’re committed to staying close to family, I’d suggest focusing on properties that might need a little work but have potential for appreciation in your market.

I came across this forum as I have recently been made aware of an identity fraud committed under my name and my company’s name.Further to the above discussion, I would like to provide you with the following facts and comments:1. 

That said it is possible that you need to evaluate your stays and decide if it is worth taking shorter stays or sticking to some longer stays to reduce your time commitment and maximize the revenue for time invested.

Totally understandable that you may have time to commit to it, as it is extremely hands own.

I agree that is will be a gamble as to how well it will do.Also, ask the owner if they will entertain partial owner financing to keep from dragging family and friends into this risky business venture.Maybe even rent from owner for a year with right to sublease to see how it goes before committing to a purchase.

The key is understanding your risk tolerance, time commitment, and financial goals to find the right balance.

A JV structure is good for a one-off deal because the only commitment you have is to the investor(s) and that individual project or deal.So in part, the answer to your question depends on what your objective is. 

At 23, your unfair advantage is time that is not constrained by collecting commitments of a family.