That can be more risky but the rewards can be greater.

I'm getting a little wrapped around the axle on this one, and anyone who can help me out will be richly rewarded with my eternal gratitude.  

The attorney balances risk and reward in a sober manner.I'm sure I've missed a few. 

It's a risk reward thing.

The risk/reward would seem to mitigate in favor of at least an attorney consult. 

I'll take the $100k (after taxes) reinvest it to save future hard money costs (7k/ year guaranteed savings & less risk/ reward) However The argument can be made to refi, get the amortization, cashflow, and appreciation; & 1031 into a new deal down the road!!

These are high dollar value properties, not just SFH, so being a match maker in this case deserves a fair reward in my eyes. 

Option 1: invest in multi family housing Pro- semi reliable income- cuts cost on my living expenditures -recession proof (can be argued)Cons- high cost start (for me at least)- first time managingOption 2: Buy land and try to negotiate a development deal Pro-huge reward -can be fast- after deal is done right, I'm hands offCon-very risky especially for intro-no expertise in this field -finding a great deal in hardOption 3: wholesalePro-great return-can be fast-not long term Con-hard to find good deals especially with a full time job -can be a nightmare project-no expertise Please correct me if I have messed up with any of my pros/cons.

What would be your advice on the levels of risk-reward grading of the following Real Estate categories?

.#3 seems like a lot of work for not as much reward as #1