Lending requires a bit more investigation and compliance with laws, both local and federal.land banking (investing in raw land) requires some very good due diligence into the market and into each potential purchase, then has negative cash flow so your exit strategy must be well planned out and this is more of a speculation play.You should be adding to tax deferred/tax free growth accounts like an IRA, solo 401k or ROTH versions of either.

re code compliance, and the pit falls and bene?

I always use 49/51, so one party can buy-out the other. from what ive understood, if you have 0 income on c/s corp level, then its 0 tax on that, therefore you only pay personal level. if you hold something, it is 15.xx% difference. but, in my opinion, llc is all the same, just that not a lot of paperworks and can be taxed upon election of your choosing. llc is less paperwork compliance, so it would be great for somebody who will be busy starting a family.

Compliance is your best choice.

What you are looking for is called a "Demand for Compliance or Possession".

The broker is responsible for the development of agency, the operations of the brokerage, the compliance with trust account(s), with advertising, with record keeping and with office requirements.  

It stings more for us since even the small honest investors have additional compliance costs, but that's what happens when people take advantage of unregulated pockets of a market.

Ensure you have a property management strategy for when you return to Charlotte.Legal and Tax Considerations: Consulting with a tax advisor and a real estate attorney will help you navigate tax implications and ensure legal compliance in both your investment and rental activities.Short-term Investment and Return Plan: Since you plan to return to Charlotte after a year, consider the short-term nature of your investment and its implications on your overall strategy.In summary, your strategy has potential, but success hinges on careful planning and navigating the financial, legal, and logistical aspects of real estate investments.Good luck with everything,KC 

But there's a whole heap of moving parts that have to be there for 1031 compliance as well as your protection

(or do you care as you see him as being successful by the number of deals or his (to you) wealth) he could be so far out of compliance, dealing unethically and just hasn't had the right circumstances to be nailed.Funny thing about getting into trouble, luck is involved, pure luck.