These provide stability and regular income, which can be crucial in retirement.Cash: 5-10%Keep some liquid assets for emergencies and short-term needs.Consider these additional points:Diversification: Spread your investments across different sectors and geographic regions to reduce risk.Tax efficiency: Consider the tax implications of your investment strategy, especially with your high net worth.Regular rebalancing: Adjust your portfolio periodically to maintain your desired asset allocation.Professional advice: Given your high net worth, it's advisable to consult with a financial advisor who can provide personalized recommendations based on your specific situation and goals.Risk management: Consider your risk tolerance and adjust the allocation accordingly.

Finding a solid property management team is crucial, especially when managing from out of state.Having everything you need under one roof can really make a difference.

However, precise execution according to IRS rules and clear documentation in the divorce decree are crucial to ensure it qualifies for tax-free treatment.

Given the substantial prepayment penalty and your current low DSCR, it’s crucial to evaluate how long you plan to keep the property and whether the savings from refinancing will surpass the cost of the penalty and associated fees.

It's apples, oranges, and bananas.

Quote from @Jackson Ebersole: Hi Piper,It's always smart to flip properties in-state, and I'd like to share some updated insights on why this approach is beneficial, especially in the New Jersey area.Lenders typically feel more comfortable with in-state flips because:You can manage the rehab more easilyYou have better knowledge of local real estate trends and valuesYou can respond quickly to issues or make decisions fasterThere's a lower risk of fraud or being taken advantage of by distant partnersI can help you with recommendations for the New Jersey market:North Bergen: Continues to show strong potential, with average profits now around $150,000 per flip and a gross ROI of 85%.Willingboro: While specific flip numbers aren't available, the market remains active with a gross ROI now averaging around 130%.Gloucester City: Still a top performer, with gross ROI hovering around 180-190%, though still on smaller profit margins.Irvington: Home values have continued to rise, with a 20% increase over the past two years.East Orange: Has seen steady growth, with home values up by about 16% since 2022.Paterson: Experienced a 14% increase in home values over the last two years.Additionally, Jersey City and Newark have emerged as promising markets for flips, with strong appreciation rates and growing demand.

I particularly resonate with the idea of 'always be analyzing'—so crucial to stay flexible and adapt to changing markets.Your point on opportunity cost is gold.

For you, is having a 5-star overall rating on rental sites the most crucial factor for success, or are there other aspects that you consider even more important?

It allows them to secure a higher price, but it's crucial that they ensure the buyer has a significant financial stake in the deal.

I'd like to add a few more traits that I've found crucial for a property manager to truly stand out:1.