There's little to no benefit to the owner and the person running the arbitrage is missing a very obvious, much simpler business opportunity- just start an STR management company and operate as such.

You can get a shorter, simpler one drawn up by an attorney, I know some guys use a nice clean 1 page doc, but if you're going to be doing a lot of business in Texas it's good to get familiar with the TREC forms.

The bonds example was very helpful and made the concept much easier to grasp.

You could go either route but don't mix the two in concept as one is a mule and the other is a horse.And, the requirement that properties be listed for sale by a bank is a bank regulatory issue having nothing to do with the NAR, it ensures that the property is held for sale in a public market at its assumed fair market value.

Look, I know the whole concept of a 1031 exchnage can feel a bit like reading a foreign language at first, but trust me, once you wrap your head around it, you might never look at property taxes the same way.

You have a concept (investing in real estate), but you don’t have a specific plan. 

Is there a simpler way to do things?

That simply confirmed “proof of concept”.

That all is changing now, ever since Hilco Redevelopment Partners purchased the property in 2020, and received concept and development site plan approvals in 2022 and 2023.

I've moved move of my clients who used QBO to Baselane (or Stessa), and it's vastly simpler, faster, and easier for them and for me.