I'm a licensed architect in Orange County, California and recently transitioned to running my own practice full-time.

Buying turnkey and adding small updates here and there has proven far more fruitful for myself and other buyers (unless you have too much cash lol). 

You’re comparing apples and oranges.

They're both in their 70s and want to enjoy the fruits of their labors over the last 45 years.

I'd recommend getting a great syndication attorney to keep you from wearing an orange jumpsuit :).

If the answer is not a resounding yes I take a minute and re-evaluate what I am doing.Once you have for some people 7 figure wealth and others 8 figure wealth you let off the gas and start enjoying more fruits of your labor as you get older and time becomes more and more precious. ( Dust in the wind ) song is very real (not another minute will your dollars buy).

He wants out of the business completely. he just wants to retire and enjoy the fruits of his labor.

. $10 billion isn't really a lot when you consider the possibility of half of Los Angeles and all of Orange County getting flattened by an earthquake.

HI Mariya, My team is based in Orange County.  

We have many beach condominium options in Orange Beach/Gulf Shores that qualify as a second home investment with programs with as low as 10% down, so you don't always have to come up with the larger down payment, but some buyers choose to go with a higher down payment to get a better rate.