82%There're two funds, one is core/fixed debt ; another one is value-add/floating.The last one issue capital call for 70% of portfolio on the run.

@Patricia Andriolo-Bull you provided a nice summary of your rationale for not utilizing a 1031 exchange and like some others have mentioned, I think #3 is the most compelling and overlooked.

Just remember when investing from long distance and still being new, you should invest time into building a core 4. 

Got really technical, but I think it highlighted why I should stay away from using cap gains deferral as a core selling point. 

Maybe the house cost too much, or they put too much into the renovation, or both… so they feel compelled to hit their target return on what should have been a more modest house/base to begin with.

My kids are older now, but that would have been a compelling reason to choose your place when my kids were smaller.

A compelling enough piece of land has not arisen yet to start this journey in earnest yet.The analysis is effectively the same as buying: what are all your costs, what are your stabilized cashflows, and what is your terminal value, take your overall timeline and determine your return.In Cincinnati, OH, during the run up (in particular, but also pre and post peak) the major owners in the market that have historically acquired existing, started building.  

GDP increased by 3.3% on an annualized basis in Q4 2023, handily surpassing expectations of 2%.Strong growth was accompanied by good news on the inflation front, with the Core Personal Expenditures Price Index meeting the Federal Reserve’s 2% target in Q4.

The price range will be dictated by these considerations.I suggest that you first identify a strategy you're willing to take, choose a market that aligns with it and establish your Core 4, especially if you have plans to invest out of state.

These tend to have awhile before any cash flow due to lease up but equity multiple tends to be higher.Then we have our core plus model which is mainly investment grade credit single tenant we buy all cash with.On those core plus it's 5% pref to investors and split the cash flow above 5% - 50/50 (LP/GP) and upside 70/30 (LP/GP).