They could have used that money for much better investments that would have allowed them actual financial freedom.People look at tax deferment as if it is some pot of gold that then dictates their very life.

Ask yourself how much work you want to do (real estate is not a passive income endeavor) and how does it or does not fit into your life right now.

I talked to numerous California investors in real life and phone/Zoom calls who have lost money in far away OOS markets, mostly Midwest markets (e.g. repairs, capital expenses, bad tenants, properties vandalized while under renovation, evicted tenant stole all the appliances, property managers with high fees or overcharging for repairs).

No property is worth 2 years of your life and, once he counter sues, all of your sanity.

You get so much wealth and start getting older you enjoy the business but focus on quality of life more and memories. 

Do that every 2+ years, sell tax free, repeat, and you can be set for life ("live in flips"). 

I found several properties, made one phone call to a loan broker, paid the 1%+ and life was easy until my broker talked me into re-financing on every loan about every 3 years, or maybe, there was so me reason I had to re-finance.

Otherwise, if something horrible does happen, you just opened up a huge lawsuit that could destroy your life!

Development has changed my life.

I have not paid yet- pls help a senior citizen salvage his entire lifes savings!