@DJ DawsonIn order to preserve the maximum amount of account value (no tax hit) and retain the tax-sheltered status of the funds, you would want to look into a self-directed IRA, or if you will be self-employed with no full-time employees, perhaps a Solo 401(k).These self-directed retirement plans provide the flexibility to invest beyond the stock market into assets such as real estate.Of course, it is not "you investing in real estate", or something where you can draw current income. 

Being both an investor and active agent I have a unique perspective on this, but as an investor if someone brought a 16-unit deal to my attention and I ended up buying it (or even if I didn't) I would be grateful and would want to preserve that realtionship in any way possible so I was the person she brought the NEXT 16-unit deal to as well.

Such as tax preparers, sandwich shops, etc.... that will really suffer if traffic volume dries up.If this is his thought on this, it comes down to preserving the "Asset Value" of the shopping center through tenant mix.Storage units seem to be low volume traffic draws compared to a Home Depot or something like that.

If investors are doing it right, i.e. investing wealth built up themselves over time, they should probably go with the proven provider.  12% is plenty when you are at the capital preservation and legacy wealth stage. 

@Farzan SetayeshNothing out of the ordinary, but I use the combination of the following consistently:- google photo for agent photo/video sharing- docusign for executing docs- acrobat X for all other doc edits- whatsapp for texts and phone calls- online money wiring or ACH for large items- paypal or venmo for smaller items- zelle or ACH for collecting rent- yelp or taskrabbit for misc repairs- lawnlove for landscaping or snow removal - skype for group meetings- Dropbox for online record storage- google voice for call forwarding - email for all tenant communications - autodraft for all utility & mortgage payments- online payments for all taxes & insurance - google earth to survey neighborhoods for out of town purchases - amazon or HD for online parts ordering The automation & streamlining of low value tasks enable me to preserve time for higher value activities.

Are you looking for cash flow, capital gains, preservation?

Ownership will not change hand until their passing.I'm looking to figure a way they can estate plan (preserve prop 13 and 58 advantages) while also taking out a HELOC.Have you heard of anyone doing this?

sounds like your friend went into massive debt.If your already liquid to that extent its about preservation .. return is great but number one is safety.a nice diversification of Notes  fixed assets  short term investments would be a nice thing to strive for

New investors, esp out of state, should look for reliable, consistent cash flow and capital preservation.

Just started a property preservation company looking for some good startup tips