If you’re looking to build long term wealth, accumulate assets, take advantage of tax code, and benefit from appreciation, then play the appreciation long game.

@Richard Benjamin Wilhite, @Bill B.makes some good points about loan terms and the strict identification rules for a 1031 exchange.I would add from a tax mitigation perspective that buying the largest property possible will give you the greatest amount of cost segregation possibility and at the lowest cost since it would be one study rather than several. 

Buying land is simple there is due diligence that you need to do but not a ton.

I know some investors have used ceramic tile in the past but have since steered away from it due to the cost and grout.

But tax benefit of MTR if there is difference between the 2 vehicle.

It sounds like you understand that you can only 1031 the real estate and will have to pay tax on the portion allocated to the business FFE. 

If the airport authority would deed the buildings to me, it would cause them to be entered on the tax roll.

Income taxes are a lot higher on rental income. 

Hey Robert - Condos and apartments can be a solid entry point due to lower purchase prices and potentially lower maintenance responsibilities, especially if the HOA covers exterior upkeep.

I exhibit and talk at them about available tax benefits and cash flow that too many miss.