It’s right out of the crazy scammer text book, and what’s so scary about it is that each step makes sense at the time.

Put it in a short term treasury fund while you take a few months to read a dozen books from both the biggerpockets.com and bogleheads.org websites.

I am sure your aware of the antiquated lot of record rules already on the books in LA county that could stop a lot of rebuilding unless they change those laws or codes..

In March 2023 we started conversations with True Books.

Focus on affordable markets, build a strong network, and continually educate yourself through books, podcasts, and deal analysis to steadily expand your portfolio.Good luck!

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

Google the term UBIT.Tom Wheelwright has a chapter on why you don't want to do this in his book Tax Free Wealth.

And I'm sure that's because some people direct book, others use Airbnb, etc.

Personally, I'm a big fan of 2-4 unit properties.

If there was no appreciation, there is no need to do a 1031 exchange.I have never been a fan of condo's as you lose some control over the investment - You have no control over the monthly maintenance fees, you may not have control over who is on the board, you have no control over special assessments.I wish the investments turn out well for you!