I (obvious) don't have a background in accounting or taxes.The history of my coming to be the sole shareholder of this s-corp is complex, long and, I have no doubt, filled with tax-planning blunders.In case anyone is still interested, and inclined the help, here it is in as abbreviated form as possible:1967:  5 families bought this property as a summer vacation for them to use collectively1980:  1 of the families sold their share (20% of the property and what is effectively a lifelong lease to one of the 5 cottages). 

Any delinquent loans are “put” back on the seller.From the seller’s perspective, it requires managing the complexity and liquidity requirements of outstanding options.To compensate for the transference of risk, notes with put options trade at a lower yield.- Sellers receive payment for the loan and a premium for the option.- Buyers earn a reduced yield but hold a valuable option.Much in the same way that equity yields are reduced in up markets when bought with put options.How often do you buy/sell debt with put options?

Hello, I am considering buying a few apartment complexes out of state and exchanging.

This is a complex issue and I know the community would benefit from learning about our decisions.

@CJ Bennett i think you should first remember that few people have a skill set to be able to perform their own maintenance and repairs, possibly larger and more complex projects.

@David NinoThe most important thing it to confirm that the tax return is correct and properly filed with you taking advantage of deductions/credits available to real estate investors.I don't have information on how many state tax returns you are filing and how many properties hold those 23 doors(1 apartment complex vs 23 sfh's), I would have to say that is one really competitive price.

We could maximize our capital (~$150,000), but lose any future cash flow with the property.3- look into a 1031 exchange for a multifamily or small apartment complex.

I'm eager to hear if other investors make it a priority to diversify into other markets (I think my neighborhoods in STL will continue to have demand, but nothing is a given), and if you feel there's more of a return to be had with the same amount of effort by scaling up into commercial properties or apartment complexes.

We have an apartment complex in a state where we are required to have tenants sign Window Guard forms and for the first time in decades, a tenant asked about getting window guards.  

As a specialized real estate CPA, I'm here to provide expert guidance on your most complex tax matters, from navigating 1031 exchanges and cost segregation studies to optimizing your rental property deductions and handling multi-entity structures.