Yes the financial benefit is attempting, but I do want to understand all the legal consequences, including insurance issues before making a decision.

This is like when a seller says they don't want to pay capital gains so they want 200k on the contract and 200k in a bag.

Thanks folks, it seems like overall it doesn’t make the most sense to start an LLC for real estate purposes due the cost and complexity, with few benefits here in California.

Partial 1031 Exchange: If you back out of the condo deal, you can still defer taxes on the portion already reinvested (the vacation rental) and pay capital gains tax only on the unused portion ("boot").3.

My first thought was sell to lock in your tax free cap gain.

If it's not included in the rent, many companies charge a flat fee to monitor & pay utilities.2) Assuming you're referring to resident benefit packages, renters insurance, and other charges for services the PMC offers to tenants. 

Sounds like they have a back door deal where the lender or loan officer and builder or realtor all benefit from using each other (which is illegal).

Take that year to gain some financial literacy and find out what types of investments you're comfortable with, and find the right people to help you invest it.BUT, if you have piles of debt that you can't keep up with, don't wait a year to address those...

Using your own funds to pay down your loan so you get a bigger loan sounds like a zero sum gain (aka IE using 1 dollar to pay down loan so you can net 1 more dollar from the new proposed loan) So how are you going to net more cash when spending 1 dollar to get another 1 dollar ?

@Andrew MaturanaTo gain a competitive edge in the hospitality industry, explore creative ventures, Triple Net investments, house hacking, syndications, joint ventures, and leverage business acumen, networking, and resources.Good Luck!