Quote from @Angus Brooks: Hey All-  I own a small apartment complex in a two entity LLC and am wondering what the tax implications are for a cash out refinance. 

I am currently selling a 16-unit apartment complex, the first one to sell since 1998 when this buyer bought this one!

I’m wondering if the influx of newer apartment complexes near campus has shifted the supply and demand balance.

Other strategies include gifting portions of the property to reduce the taxable estate or exploring more complex options like a Qualified Opportunity Fund or a Charitable Remainder Trust to defer or minimize taxes.

Any capital improvements on a not owned yet property would involve a complex 1031 you’d want someone like @Dave Foster involved in. 

That just adds a level of complexity to everything.I think there is so much opportunity in the US, that why would you try to complicate everything x10, but investing in someplace like Spain. 

In my experience, a suit for specific enforcement of a real estate purchase contract is not particularly complex or fact intensive that would lead to extensive time needed for discovery. 

On the other hand, I am aware of a few students who thought they would start out small and work their way up, but realized that their first deal could very well be a 60+ unit apartment complex.

Once you know what your monthly costs look like, you can make a sharper call if a sweet off-market deal pops up.

The more experienced investors with more capital are buying apartment complexes and doing syndications (one asked me if I wanted to participate...I passed) in San Antonio or doing commercial RE.