Of course, you would not have a remaining equity split to deal with, but the dollars per distribution/time to distribute concept is the same.BTW, in 16 years of setting up self-directed IRA plans, fractional distributions in-kind was my least favorite strategy. 

I've looked into 1031 a couple times and I was always surprised at the fees involved but I suppose its still a fraction of the depreciation recapture and capital gains.

Investing in high appreciation markets enables you to acquire the number of properties you need at a fraction of the cost of buying in a low appreciation location.Lifelong IncomeMany people face the nightmare of outliving their money.

However using my method, I can find the diamonds in the rough for a fraction of the price of a spot in Hawaii.

Larger amounts you would be the sole lender and the sole bene so your secured and your HML is taking the points for their fees.In CA you can do fractionalized loans were the Bene's are actually co beneficiaries with secured interest on the loan..

It’s like winning lottery - you take lump sum or annualWhen people say well banks do it, the banks can make a $100,000 loan with only $10,000 (fractional lending - which you and I cannot do).

I universally recommend they look at first-position fractional loans, which are legal here, but I know that no one listens.

But still a fraction of Texas property taxes.  

We're purely a bookkeeping firm and provide some fractional CFO services. 

The only answer is that you own a fraction of the units.