Duplicated the conversation to a degree.  

But these programs: Extensive rehab, Multi-family conversion, these are programs for the experienced investor. 

With a dedicated employee.. the door hanger guys were the HOBO's they would pick up at the Y when they got kicked out at 6am every day.. these guys were paid 20 bucks a day and a pack of smokes.. during high school I used to drive of the vans myself So lots of interaction with that day and age homeless or houseless or Hobos etc.. some interesting conversations with those folks. 

Once you do this conversion you can't change it back to a traditional long-term rental. 

Let me know if you want to dive deeper into crafting your strategy or preparing for potential questions!

However, if you sell instead of rebuilding, the IRS may include part of the payout in your taxable gain unless reinvested under the §1033 involuntary conversion rules, which allow you to defer taxes by purchasing a similar property within two years.If the property was your primary residence, you may exclude up to $250K (single) or $500K (married) of gains if you lived there for at least 2 of the last 5 years, likely resulting in no taxes owed.

Markets like Tampa, Orlando, and even Jacksonville offer good cash flow and growth potential without the extreme price tags of places like Miami.Happy to chat more if you want to dive deeper—let me know how I can help!

The 1031 positions the investor into a property that the REIT absorbs as @Joe Sera said in the 721 conversion. 

(yes, each option has volumes of disclaimers, circumstances and variables...at a high level, conceptually and then we can go deeper as needed.) 

Bottom line: you're not helping them by allowing them to keep digging the hole deeper AND you're cheating yourself.