You have to find the areas that are either zoned for Hotel and Resort or have NUCs (non-conforming use) certificates. 

I'd check local zoning ordinances to see what is permitted. 

Vetting Potential PartnersOnce I find a potential partner, what are some key questions I should ask or red flags I should look out for when vetting them?

How is the property zoned?

I have yet to see an underwriting that holds up to my scrutiny that shows that adding a hands off single ADU in single family zoned area that projects a return that justifies the effort and risk.

If 4 syndicators offer 10% and another is offering 15-20% then a red flag should go up and ask “why is this one better” if the operator says it’s because their secret sauce I would laugh. 2.

The property either has to be zoned a commercialZoning or - you have to own both HPR parcels and have one be a primary residence .

My rental properties in the Bay Area aren't in a fire zone but I live in a fire zone.

Correct, Shelter will be under use group 3, which will need a special permit to be allowed in M1-1 Zoning.

., equipment) are excluded from 1031 treatment and are taxed separately—goodwill is typically taxed as a capital gain, while equipment may be subject to depreciation recapture taxed as ordinary income.To minimize taxes on the sale of the business, consider strategies such as Opportunity Zone investments, which defer gains until 2026 if proceeds are reinvested in a Qualified Opportunity Fund (QOF), or structuring the sale as an installment agreement to spread taxable income over multiple years.