If someone from that FB group were not on this thread, you could still be in the exact same position.Anyone that makes allegations on social media needs to be sure that they have the facts correct otherwise they could be financially liable for the consequences.good luck

This can be used to eliminate most gains of a long hold highly appreciated rental asset through 1031 + primary resident conversion to establish a more favorable ratio. 

Financially my full-time job is our main income as a family.Job is demanding.

You do lead me to a point of maybe I should investigate their financial stability a bit more.The guy with the 4 plex I talked to WAS thinking about taking the $120k.

They're good to have open access to capital/cash/equity to a property ahead of time so you can execute a deal or purchase when the time comes on a split second decision (versus having to apply to a loan at that time which might take 20-45 days to get approved/closed/etc plus by that time you dont know what your future income/credit/assets will be like in order to qualify anyway).The second use is sleep at night factor and having a reserve of capital in the event an emergency event occurs in life.For these two reasons is why I use lines of credit.

Investing in real estate syndications is a great way to get exposure to real estate without having to manage the actual asset. 

If your priority is building wealth sustainably and positioning yourself for long-term financial independence, I’d strongly recommend considering properties like duplexes, triplexes, or even quadplexes.

Seems like you're in a great financial position. 

@Jeff S.Speaking of recourse loans…https://therealdeal.com/new-york/2024/11/27/acres-goes-after-personal-assets-of-tides-equities-principals/

If you need financial help, ask under the "Finance, Tax, and Legal" forum.