@Renier WaltersYou implied that the PM was the GC for several months of repairs.

As implied, legally a deal can be structured to allow you to 1031 into a TIC formation within the syndication.  

@Joe Villeneuve but this implies that you can redeploy that cash you now have.

Thanks @Paul Camuto - by “team” I was implying a contractor, realtor, and lender as mentioned.

Does this imply this association doesn't maintain the condos well?

This implies renter options include a) rent at the existing rates b) move elsewhere (some people will choose this option, but not enough to alleviate the housing shortage) c) purchase.  4) the increased interest rates make it much more difficult for the first time home buyer (i.e. current renters) to purchase. 

There is no verbiage on preservation of the asset, that is implied and is in his interest too.I don't think he is limited as to what he can invest in, but what he is looking to do is maximize his return, (cash-flow), but he has a narrow understanding of the options available to him & is only looking for paying off 1-2 SFR's and that being his 'retirement'.   

This implies that it can be valued less than pre-ADU.Good luck

I doubt it's something as nefarious as you imply...why would you overpay 900K+ to save 2-300K on taxes?

Thanks in advance,Mike Mike,  youtube is your friend for subject to, lease option, wrap trainer helps.