If you’re looking to build long term wealth, accumulate assets, take advantage of tax code, and benefit from appreciation, then play the appreciation long game.

I love the Smokies as a long-term play.

Currently, Cape Coral's inventory, new listings, etc are on the decline again.As @Bernard J. implied, I would take a sizeable tax hit if I sold immediately, but again there are a lot of market conditions at play. 

The property cash flows and I could definitely see each investor making at least $1000/mo with the most hands-off approach of renting to an operator and much more if a person ran it as STR or LTR and it is a great diversification play for me as Costa Rica should see much better appreciation than the Midwest, but if I were to cash out I could see five times the cash flow because of the power of leverage.But I think you hit the nail on the head in saying that it is a lifestyle type of investment.  

I’m building a tech solution that should drive more buyer leads to an agent’s pipeline. But to build this I will need access to NAR APIs. Is there any developer here who can share their experience building with the AP...

There is not a lot of data for MTR comps so I look on FF to see how many MTRs are in my area and what the rate is, and I play around with AirBnb to see what  a monthly stay would cost.

These are big money plays life changing profits but RISK you bet..

That is the difference.The convertible equity play is just garbage.  

As it is when money is at play.

I also understand accounting and legality may play a role.