Which one will you do:Deal A - small one - you need $10K and need 100 hours of your time and you make a 25% ROI; orDeal B - big one - you need $100K and need 100 hours of your time and you make 25% ROIYou can only do one deal at a time and doing Deal A means you lose out on Deal B and vice versa.By the time you do Deal A, you make $2500 profit on 100 hours worth of work.

When stuff like this happens, you get folks moving in that turn to vices to feel better and care less of their surroundings.(2) Switch to another PM.

If you need an engineer it makes sense to pay one vice going it alone.

@Jimmy Lin Yes, you will be paying transfer tax in Philadelphia if you're transferring title from your personal name to an LLC or vice versa.

Some clients may want land to develop then we can introduce them to developers, lenders, and vice versa.  

For example, you can exchange one property for multiple replacement properties and vice versa: you can exchange multiple properties and for one larger property.

And vice versa.

So a sponsor that's great for one investor will probably be terrible for another (and vice versa).I'm a conservative investor, so when I invest in real-estate I prefer sponsors that have at least one full real-estate cycle of experience, little to no money lost, low leverage, and high skin in the game.And right now is a challenging environment for certain asset classes like office, some multifamily etc.

Or vice versa, I've known of great providers who are in markets I don't particularly care for.

If you have other ways to mitigate the tax bill like @Patricia Andriolo-Bull did through passive lossesHere's when to do a 1031-If you're buying more real estate-If you have profit or depreciation to shelter-if you want to get away from looming cap ex exposure-if you want to reposition to a different class or location of real estate-if you want to move from high appreciation to high cash flow - or vice versa-If you want to go from active to passive-If you want to maximize tax benefits of RE investing-If you want to use the govt's tax for your benefit (shelter $30K of tax for 30 years and at a 10% return you've put $90K more into your pocket)-If you want to leave a tax-free legacy for your heirs.Sometimes it doesn't make sense.