I definitely plan on building a team in the market we select. 

What's your plan?

Quote from @Richard Eric Hughes: My question is what ae you planning to do?

If you plan to invest in a syndication as a limited partner (LP), ensure the structure allows for direct ownership in real estate (e.g., through a Tenant-in-Common (TIC) agreement), as partnership interests are specifically excluded from 1031 exchanges under IRC 1031(a)(2)(D).

Hopefully, the tenant takes the hint after today’s conversation, but if not, you’ve got a solid plan.

For long-term planning, consider transferring the property into a trust to manage tax and legal complexities.This post does not create a CPA-Client relationship.

Congratulations to you for setting yourself a goal and having a plan in place to execute it. 

In the future, I plan to have more rentals but more interested in out-of-state investing than in state so I currently only have the one rental.

I’d plan for extra amenities like special decor or concierge services. 

Newsom's plan is lazy governing.