Don’t let emotions get in the way of your goal, which is to get your EM back or pivot to another opportunity. 2.

Opportunity Zones 2.0?

Starting with land can help build funds for bigger opportunities, but multifamily is a solid path if your goal is long-term cash flow and financial independence.Good luck!

Thanks to all of you for your valuable input.  

I eventually want to buy a house but I think as a novice this will give me some experience and the opportunity to learn the challenges that I will need to overcome once I do buy my property. 

Your detailed approach is key to finding opportunities aligned with your goals while navigating regulatory hurdles effectively.This post does not create a CPA-Client relationship.

At the same time, I am also using this opportunity to move that capital into an LLC, and would look to extra financing to purchase a new property or properties of equal or higher value (per 1031 exchange requirements).

@Nathaniel Kamp This sounds like an opportunity worth exploring, but time is not on your side here!

I’d just recommend reviewing the renovation requirements for the historic district since they can add time and cost, but the right team can help streamline the process.Good luck with the deal—sounds like a solid opportunity!

The current market definitely has some great opportunities for strong ROI and equity growth.