@Adriana Siu real estate is a long term hold, not a trade in my opinion.

Call it a partial or hypothecating or both but that’s another concern.Lastly does each person involved in the trade understand all these surrounding facts?

Private placements are inherently risky by that very fact - they are not regulated or audited  to the degree that a publicly traded company is.  

I strictly use them to trade into places I really want to go and I can never, ever beat the price I pay for a week as compared to normal rentals rates which are three to seven times higher per night.  

The IRS requires the hours to be specifically in real estate trades or businesses, which typically means activities directly related to owning, developing, operating, or managing real estate properties.IRS Publication 925 outlines what counts as real estate trade or business activities, like development, construction, acquisition, management, leasing, and rental operations.

I don't regret waiving my inspection (or ability to negotiate on that), but I probably would have sent a few trades through.

Your cashflow is decent for the two investment condos and you have reduced maintenance there because of the HOA (but you have HOA which is a hindrance), but I would rather sell those and trade up to a multi with no HOA.

In realms where shadows veil the light,I shift possessions overnight.Deferring burdens none can see,I weave the threads of property.A spectral path to trade unseen,What method moves behind the screen?"

And then on top of that, you still need to pass the trade exam. 

Key differentiators include storage space (attic or large closets), EV charging, and accessible backyards (not just an entry from the bedroom).3) Liya Mo - BTR REITS are trading at a premium to MultiFamily REITS, largely due to more exit strategies.