Since teak is a 25 year investment, also look for a secondary purpose or value to each property such as location, river access, future tourist area, etc.There were two lots, 36 and 23 that we bought together.Lot 23 is 32 acres and has 12 year old Teak/Mahogany on it. 

This does only apply to residential properties, so commercial and raw land can still be assigned the way it used to be.

Now dentist with two offices, lawyer, developer, commercial real estate agent, West Point grad, etc.

I immediately offered to pay the cost to my tenants to make it more accessible.

This then creates the opportunity to access that cash flow (converted into principle) via tax free refinances! 

@Marie CopulHunker down and pare down your lifestyle expenses as much as possible so you can replace what you need as quickly as possible.I did have a client take down a 57 unit mixed use apartment deal that added $1.1M to his net worth and $180k a year in cash flow in 12 months but those types of results are not typical.However, some type of commercial real estate would be my suggestion and one where you are driving the ship so you keep most if not all the equity.I have some ideas for you and would be happy to talk you through them.

When you sell the property, and access the equity in the form of liquid cash, you make your profit. 

I currently own 2 commercial and 1 residential, a 7 unit / 2 commercial storefront property, a Laundromat facility storefront, Then a 2 unit multi family that i am house hacking.The purpose of the this post is that i want to meet ALL investors( pro or just starting out) in New London County to know each other and learn and talk about real estate, want to create a great network of people in this county.

Once you complete your exchange you could immediately do a cash out refi on the first property to access that concentrated equity you need.

With your experience and a clear goal to build wealth and transition into multifamily commercial properties, you're on the right path.