There are also few things better than tax free cash if you want to sell it and move out.

#10)  The birds provide a free, natural alarm clock!

Total Investment: $297K; ROI: 25%/year; 10-year equity: $1.5M.

I've been mulling it over and trying to articulate to myself what I'm really looking for and I guess what I've most recently settled on is if a deal works that will give me better total return for the money and the time, then I'll call it a good deal.

Feel free to message me if you'd like.

I really like LLCs compared to corporations because of the free stepped up basis for passing property to my children. 

If you have any questions on 1031's feel free to ask! 

Regarding a book, I learned a lot from Location, location, location by Ozzie Jurock and he has quite a bit of free content on YouTube and his website.

Consider this: there are an estimated 10K homes in Pacific Palisades, at least half of which were destroyed. 25% were constructed during the 60-70's and +/- 75 TOTAL were built in the past FIVE years. 

No free lunch in this market!