Also, check minimum lot size and street frontage as you may need to carve the mobile home park out of the existing lot versus pile onto the existing lot, so if you are trying to preserve the existing structure, you may lose some lots considering setback requirements and access.Your local government may require public water and sewer for a new mobile home park, so be sure to check the requirements and distance to the nearest connections.

I value stability, wealth preservation and long term growth over short term cashflow.My property manager is very experienced in sales and business management, recently quit their job, and is looking for a new career path.

They often state that they are not 1031 friendly.You could move into passive-income DSTs if you are an accredited investor, but it's difficult to find anything that expects to cash flow over 6%, and the risk of a passive investment needs to be weighed against the equity appreciation upside potential and current cash flow.I would do a couple of things: Prioritize the following goals in order (defer your tax liability, preserve current equity, preserve current income, equity appreciation, income growth). 

And if you're looking at a 1031 you probably want less rather than more equity to go into the next project to preserve your options.  

Historic preservation and architectural constraints are something else entirely.

It’s just an extra layer of defenseMost people get tripped up on the LLC regarding maintaining/preserving its corporate veil which is really the whole point of the entity.

Reasoning is this: preservation wins in the long run.

These include things like taxes, insurance, preservation, legal fees Etc.

In multifamily value-add investments, common risks include:Not being able to achieve target rentsMore tenants moving out than expectedRenovations running behind scheduleRenovation costs exceeding initial estimates (which can be a big deal when you’re renovating hundreds of units)When evaluating deals as potential investments, look for sponsors who have capital preservation of the forefront of the plan and who have a number of risk mitigation strategies in place.

Is there any avenue to preserve my grandmother's cost basis?