How did you get that in today's rate environment (25% or 30% down)?

I always tell people, it's like any other business, respect it.

First off, respect for taking action, brother.

Many of these projects derive 50% or more of their overall profits from reversion cap rate assumptions and some type of compression that probably doesn't exist in the current environment.  

Sometimes it's age, increasing work on aging properties, or an increasingly unfriendly landlord environment (Hello CA!!!). 

That satisfies the requirement that the seller and buyer be the same for your 1031s.Once you own the property as tenants in common you can either form an LLC and contribute the property into the LLC in exchange for membership interests respective to the amount you are contributing. 

Like many (most) small business owners especially in this high interest rate environment, we have to use make extensive use of our personal credit rather than using extremely expensive business credit.

And, due to the arid environment, property upkeep generally remains minimal, saving on both time and costs compared to areas with high weather impact.Moreover, the mid-term rental (MTR) market in Las Vegas presents a significant financial upside, often doubling the rental income compared to standard long-term leasing.

Arizona’s steady flow of out-of-state buyers and rental interest, along with its attractive tax environment, makes it a top choice for investors who prefer markets with minimal seasonal fluctuations.Southern California: Coastal Appeal with High DemandCalifornia as a whole can experience seasonality, especially in its northern regions.

Ultimately, the impact on housing markets will depend not only on who wins but also on their ability to implement proposed policies and the broader economic environment during their term.Your Voice MattersThe future of America's housing market will be significantly influenced by the outcome of the 2024 election.