If I was trying to break into the industry, I would approach a few small- to mid-level sponsors and ask if you could provide help to their organization in exchange for a mentorship.

So as a result of my “asset protection” procedures, the end result was that instead of being sued personally and having to spend the time, money and emotional stress of both defending my self AND suing the insurance companies and condo association, the plaintiffs accepted an ASSIGNMENT of proceeds and signed a form releasing me and my LLC from liability in exchange for the right to go after the insurance companies themselves. 

They explained that Fannie Mae (according to an exchange with their Servicing Portfolio Manager at Fannie Mae for a similar but not an exact loan) does not allow PMI removal for improvements already included in the original loan’s scope until after a two-year seasoning period

:Originally posted by @Tyler Jahnke:Hi @Will Zena - I had a very brief email exchange with Clayton and he stated there was nothing to worry about.

But the rules of the 1031 exchange will let you accomplish what you want without doing that too.

I am a new investor so I'm willing to put in time equity in exchange for knowledge and experience.

I’ve personally helped folks navigate 1031 exchanges in Phoenix, rolling their gains from one property into something bigger and more strategically placed.

A 1031 exchange is a great way to indefinitely defer the tax and use it to grow your RE portfolio, and build long term wealth.The most important factor in a 1031 exchange is that your qualified intermediary must be in place prior to the closing of the sale of your old property.

If you would really like to explore the sector : why not go and message 10 to 20 operators and offer to look after their property or clean their property for a month in exchange for their knowledge and details on the numbers.

This will allow you to take advantage of the Section 121 exclusion and you could do a 1031 exchange into the new property.