The rules are designed to prevent related parties from engaging in exchanges that shift high basis property for low basis property, followed by a sale of the low basis property, effectively "cashing out" without recognizing gain.If you sell a property to a related party as part of a 1031 exchange, both you and the related party must hold the exchanged properties for at least two years following the exchange.

In some syndications, returns may be higher than 15%, but it can be more risky in that there are usually many people involved and if the operator doesn't perform as originally explained then the process of getting your money back can be a little more tricky.

My wife also made it clear that if we were going to expand beyond what we already own, she didn’t want to be involved in managing them.

Are there going to be banks involved, creative seller financing or all cash? 

I involved insurance, remediation, restoration and they all did their part and finished in 2 weeks.

And this does not even involve business or real estate!

We are eager to connect with interested parties and explore how we can turn this situation into a win for all involved.Feel free to reach out if you have any leads or would like to discuss further.

Should I go through with taking ownership of the property and try to salvage it for profit or do I refrain from even involving myself in the situation as it may cost more than it's worth to save it?

No coaching program, called multifamily brokers in my areas, have a regular job, and have 3rd party PM.

A third party company that integrates with our system.