Its always best to define you goals first, then choose a strategy to help you meet them.

.† Final value defined as = [Down Payment] + [total cashflow] + [principal paydown]*The ROR formula breaks down when you have negative cashflow since you can't pay the negative delta along the way with the equity you only realize after selling (or refinancing).

The most important part of the transaction, in my opinion, is that the 1031 Exchange must put the investor into a better position (how ever they define that) than they were before. 

Welcome back :)  Can you elaborate more on what you are trying to define with "conflict of interest". 

"Action" is loosely defined and almost always educational. :)I don't know much but I would totally be more than happy to discuss what I do know about REI and WR markets.

Maximizing this objective is "dominating" your target market.So, in terms of defining dominating, Id' summarize it by a superior network that is generating mostly referral leads coupled with a well known trustworthy professional reputation.Reputation is the sum of long term production in all business facets.

@David Krulac / @Jon Loca  - I would bet that if we poll everyone, we end up defining the suburbs by their focus on on a particular asset class, specifically low to mid density residential, to the exclusion of industrial and larger commercial.

I understand residential, but commercial is a definately something different.  

Check state security laws as they may be different, but 3 is pretty common.Put the money in a company bank account, about as safe as you'll get with that amount.The Operating Agreement forms the LLC defines how business is to be conducted, who has signature authority over bank accounts, the rights and obligations of members and management issues.

Wording in Mo. law is "facilitating a sale" that can be a wide swath of activities and will be defined by the RE Commission.