Financial advisors focus on what they now best.

I’m happy to be in a forum with fellow investors and people wanting to master real estate.  I enjoy hearing about peoples’ personal wins and innovative, creative strategies.  I hope to be able to contribute to other p...

Please let me know the financial implications. 

Sounds like they are dumping a bad 1031 property into a REIT and spreading the financial burden upon existing REIT members. 

I am not unsure of your current income & life circumstances.

Yes, there are some circumstances that would allow you to assume it; relative, death of a spouse, etc.

Financially I do not need to have it rented tomorrow, I can wait a bit.

Wrong message.Yet, everyone is convinced that a certain circumstance —foreclosures, tax liens, probate cases— implies “motivation”.Circumstance doesn’t imply motivation!

Effectively a 'Firestorm' is a dry hurricane that rains fire, with nearly indefensible circumstances, just like the catastrophic flooding, hurricanes, tornadoes and other disasters they have and will intensify in severity and rapidity.Beyond directly impacted property owners, investors, insurers and businesses, the downhill effects of the SoCal fires on the immediate and surrounding areas are astronomical and still somewhat incomprehensible.

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.