Ensure you work with a team that is familiar with them (accountants / lawyers).A 1031 exchange is a way for real estate investors to defer paying taxes on the sale of investment property.

This means you have an investment manager of the fund  buying stocks that are managed by managing teams.

Hopefully as the rates and the housing market loosens so will some of these guidelines in the HML programs. from talking to hard money funds especially those who operate in more than 10 states, and 5 years of experience with underwriting teams, I'd actually disagree and say new construction is preferred to rehab due to experience level to enter the market. there's BP lenders that will do 15% LTC with 1-2 new build experience.

They teamed up with a contractor to buy a small multifamily in Oceanside.

Find your boots on the ground and assemble a good team.

@Bob AveryLike Wale stated I would go to MNREIA meetings to further your education and expand your team. 

I'm starting to look for team members so I know exactly what blocks to stay away from.

Hey Team, First post here, so I really appreciate the patience! 

The biggest challenge is finding a team you can trust that will run the business for you because its not passive at all. 

I Came across a video from the bigger Pockets team, this video gave a ton of gems.