Four properties provide diversification, greater potential for appreciation, higher aggregate depreciation deductions, and increased cash flow over time but involve more management complexity and higher leverage risk.

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

While many of these issues are important considerations and should not be ignored or overlooked, there are other more crucial criteria that you must question and evaluate first.The critical risk criteria that you must review and evaluate prior to making your final decision on which 1031 Exchange Qualified Intermediary to retain includes, but is not limited to, the following areas:Technical capability of the 1031 Exchange Qualified IntermediaryInternal processes and audit controls to safeguard your 1031 Exchange funds and assetsUse of Qualified Trust Accounts or Qualified Escrow AccountsDecision criteria and guidelines for investment of your 1031 Exchange fundsProtection from potential errors or omissions by the Qualified Intermediary (E&O Insurance) Protection from potential theft or embezzlement of 1031 Exchange funds (Fidelity Bond) An experienced and professional 1031 Exchange Qualified Intermediary will understand these concerns and should be happy to discuss these crucial issues with you.

This will help you understand their motivations, which can be crucial in negotiations.

The key will be to remain flexible, understand the local market dynamics, and position themselves to take advantage of the eventual boom when the project comes to life in 2025.

Quote from @Jim Bryant: This is why it's important to understand how the legal system works before investing in an area.

For the most part, I think I understand the basic idea of a 1031 Exchange.

Building a network here can open doors to partnerships, mentorships, and local insights.3.Explore the Blogs and Podcasts: BiggerPockets has tons of content—blogs, podcasts, webinars—that cover everything from beginner strategies to advanced investment tactics.4.Utilize the Deal Analysis Tools: If you’re considering an investment, the deal analysis calculators are invaluable for running numbers and understanding potential returns.5.Set Clear Goals: Define what you want to achieve, whether it’s learning a specific strategy or connecting with certain types of investors.

Lease or no lease, you need to follow the timelines that NYS set out from my understanding.

None wanted to give me at least an estimate without architectural drawings, which I guess is understandable.