At its most simple we’re separating the appreciation/capital buildup benefit from the cash flow benefit.  

I do think you need a separate entrance option or at least two entrances in a four-plex to make it easier on the LTR tenants, but if you are open about it form the start, everyone gets it and you choose the unit composition based on which ones will be STR or MTR.

this is unacceptable for someone like me who manages and is a member of multiple separate LLCs, partnerships, portfolios.  

@Javen Harris I was born and raised in KC (OP), moved down to Wichita about 11 years ago.

This is a separate concept and does not replace the 750-hour requirement for REPS.

If you want to quote out high efficiency boilers for six Tripple deckers for example requiring installation of separate gas, meters etc. etc. - that might be a situation where you would want to work with a contractor directly because you would have lots of different options with widely varying costs.

I bought 6 unit property in Wildwood,NJ,in November 2024, doing rehab now, should be done by May 2025I am planning to subdivide 6 unit building to 6 separate condos and sell fall 2026, , if there are any experts in 1031 that can help me?!

I know a common practice (at least for syndications), is to create a separate LLC for the property and then raise capital once the deal is already under contract.

I would try to portion that off as a separate loan that can be paid back quickly - you'd need to discuss your plan with the PML.

Shortly after finding that my note was separated from the mortgage and sold to Fannie Mae I started doing some digging and came across this very info you're mentioning.