Retain a cash reserve to cover vacancies or downturns, and align with your long-term goals by consulting a financial advisor.

I would echo what others have said - 100% start locally because you need to gain an appreciation for what it means to be an investor, understand the lifecycle of a deal and be on the ground to observe what's going on with renovations etc.

One observation is that @David Dachtera changed his argument.

Maybe get it straight b4 paying an attorney a retainer to sue and or choose an attorney who can and will go after EVERY possible avenue to make your client legally/$ whole.

Registering a Wyoming LLC as a foreign LLC in CA removes anonymity but retains stronger asset protection laws.

(d) retained earnings from depreciation use to lower tax burden. 

Otherwise, when he has laid a foundation and is not able to finish, all who observe it begin to ridicule him, saying, ‘This man began to build and was not able to finish.’

While many of these issues are important considerations and should not be ignored or overlooked, there are other more crucial criteria that you must question and evaluate first.The critical risk criteria that you must review and evaluate prior to making your final decision on which 1031 Exchange Qualified Intermediary to retain includes, but is not limited to, the following areas:Technical capability of the 1031 Exchange Qualified IntermediaryInternal processes and audit controls to safeguard your 1031 Exchange funds and assetsUse of Qualified Trust Accounts or Qualified Escrow AccountsDecision criteria and guidelines for investment of your 1031 Exchange fundsProtection from potential errors or omissions by the Qualified Intermediary (E&O Insurance) Protection from potential theft or embezzlement of 1031 Exchange funds (Fidelity Bond) An experienced and professional 1031 Exchange Qualified Intermediary will understand these concerns and should be happy to discuss these crucial issues with you.

These returns would help attract and retain investors while aligning with the broader mission of long-term economic development.Economic Development Through Housing and Trades:The vision isn’t just about housing—it’s about building entire ecosystems.

Typically, residents remain unaware unless they observe property tours or inspections.