I have liquid assets and want to make smart, scalable investments that balance cash flow, appreciation, and low risk.GoalsGenerate consistent cash flow to diversify my income.Maximize appreciation potential for long-term wealth growth.Invest in areas with low crime rates to minimize risk.Reduce my tax burden for 2024 with real estate purchases.My Current ThoughtsI’m torn between two main strategies:Multifamily Properties:Looking at markets like Austin, Raleigh, and Tampa for 10-50 unit multifamily properties.Love the scalability and centralized management, but I'm concerned about high upfront costs and competition.Section 8 Housing:Considering affordable markets like Memphis, Cleveland, or Indianapolis to purchase 5-10 single-family homes.I like the government-backed rent stability, but managing multiple properties across different locations seems intensive.Key QuestionsWhich strategy would you recommend for my goals and liquidity?

Here's a link https://www.oregon.gov/ODA/shared/Documents/Publications/FoodSafety/ServiceAnimalsposter.pdf You're mixing things up and only looking on a local level.

LENDBASE has the following feesConventional:1% origination fee$500 doc fee (est)Title Work TBDAppraisal $2000-$3000Environmental $0-$2000 (depending on search) Which all seem pretty normal, but FIRST they require you pay them up front $4,000.00 to start brokering loans, it’s their "non-refundable engagement fee.”Has anyone ever heard of this ever?

The owner was motivated due to personal circumstances and wanted to avoid the hassle of listing the property publicly.

I would do you due diligence but I have seen others use it to purchase non -owner occupied properties.

It's how it feels, to the public.]

You said public water was available...would the lots require a septic system to be installed or is public sewer available? 

No tax so far I think.2) If I convert that partnership interest into shares in a PUBLICLY traded UPREIT I trigger tax on the deemed sale/exchange of the partnership interest into stock of the REIT?

Even if you create a non-CA LLC, if you are managing the business from California, you will likely be deemed to be "doing business" in California and therefore likely subject to CA taxes.

You won't be able to use conventional financing and must use a non-recourse loan which typically require 40% down.