So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

And yes, attorneys make money from forming LLCs, but they make way more when you were negligent and didn’t know what you didn’t know and end up in a lawsuit. 

I don't know about your state but mine (TN) has a lookup tool that will show you the agent's original license date, the brokerage incorporation date, etc. 

A good designer and architect are key for a successful project like this and keep in mind these aren't cheap.There's a lot more details to consider, feel free to DM me for more details.

There are a bunch of different figures associated with this decision, such as new interest rate, old interest rate, cash flow of new property etc, but I'm having a hard time getting my mind around how to analyze the decision mathematically.  

Todays standards are far different as you know..

.: Quote from @Gregory Schwartz: A few thoughts, - let him know you're unable to show due to your showing policy.

you live and die by your sub contractor relationships.. this is the key in my mind.

Just be mindful that you can't 1031 a personal residence but it might be eligible for capital gain exclusion from section 121.

So, when investing in areas they don’t really know, investors should research the different property Class submarkets.