You love the house and there is a likely opportunity that you may be moving back to the Austin area.  

. **1031 Exchange:** Just a heads-up—1031 exchanges allow you to defer capital gains taxes when you sell a property and reinvest the proceeds into a "like-kind" property.

They’re all alike?

You will find most LPs don’t have them and are gamblers or they have detailed ones and are investment bankers.  

I took into account a likely cheaper labor rate but will say when we owned units in gulf shores that i was not encountering that low of a labor rate.  

From what I’ve read in The Economist, demand for “off-the-beaten-path” destinations has increased post-pandemic, as travelers seek quieter, less crowded areas.In my backyard, investors and homeowners alike are increasingly drawn to areas like Gilbert and Chandler due to their exceptional growth potential and quality of life.

its funny how this changes with time and the market on BP  if you asked this question 5 to 7 years ago you get drowned out with the cash flow is the ONLY thing and appreciation is for gamblers my self I have always been about making appreciation games in RE.. by either value add building a new product or buying foreclosure and flipping or lending money and getting instant 12% plus returns . 

Experienced investors and newbies alike stand to benefit.Will meet once per month to start. 

Love that you are learning more about the investment vehicle and that you are moving onto step two where you are working your investment criteria as well as networking with sponsors alike.

I have not reviewed BAM's fees but it's likely based on their representation of UNDER 10% "skin in the game" that most of their "investment" is taken from fees deducted from the money gamblers place with them and counted as equity in the deal; this is a common practice in the syndication industry.