this is a tough one.... one school of thought is take the 3 million do a 1031 and buy a property that you do not need partners for and call it a day.I have a property IN Ca  exact same price range  3 mil value I bought for 25k 25 years ago.. my inclination is to just get my cash and not take ANY risk to market... we buy development ground from owners to build our subdivisions I find it very difficult to talk owners into partnering.. simply for the reasons above.. end the day moving the money tax deferred and not being locked into partners and being junior to a HUGE amount of debt dissuades folks from this route.

I would recommend not leaving that much equity locked up in the property.

However, I am all eyes and ears when it comes to learning the entire business.

I have been bit by the failed septic before.With many offers, banks don't want the play where someone locks the house in with a high offer, has it inspected and then asks for $20,000 off the price.

I value your input and am all ears! 

As mentioned is Scott Trenches book “set for life”, he recommends taking a job which can potentially ear more (in my case it is real estate sales).

They want to see what they can get for it on the market before they lock down a contract.

I took care of most of that problem by adding lock washers.

@Ian Ray Do you have these deals locked up in contract?

Ideally we want to lock in a rate for 25 to 30 years.