However, this requires careful planning and adherence to 1031 rules.Holding and Renting Units:Retained Units: For the units you retain (one for your business and one for rental income), you will continue to benefit from rental income and potential appreciation.Depreciation: You can continue to depreciate the retained units, which provides additional tax benefits by offsetting rental income.With these considerations, this approach allows you to leverage the benefits of a 1031 exchange while maximizing the potential of your investment in the commercial property.

Is he providing money?

They should have contacts for service providers for you to interview.

I'm sure the brilliant minds here at BP will be able to provide you some creative ideas!

These documents can provide insights into discussions and decisions related to development projects.Network with Real Estate Professionals: Connect with local real estate agents, developers, and property investors.

Here is an article that screams doom and gloom, but provides a more detailed look.https://www.sltrib.com/news/ho...

can you provide insight to your phrase "I've got a friend who owns a rental in the Raleigh, NC area that a company just pays him a check every month for the right to rent it out."

The 50% rule states that approximately 50% of EGI will typically be consumed by operating expenses.While the 50% rule provides a quick estimate, actual expenses can vary widely depending on the property type, location, age, condition, tenant mix, and market conditions.Here's an example: if a property generates $200,000 in EGI per year, the 50% rule suggests $100,000 would go towards operating expenses like taxes, insurance, utilities, and property management.

Can anyone provide advice and steps to moving this forward?

Hi Gabriel..I've been in and around loans since 2003..we work closely with our lending partner that actually can provide HELOC or fixed second loan using a variety of income including bank statements..I think you can go up to 80%-85% on a primary using bank statement on a second lien position.