That did make it somewhat worthwhile, but, like it has been mentioned in this post, Phil's stories went on for forever.

If I 1031 my apt bld I can defer taxes forever or just let my kids have it at death tax free.

You pay all those taxes because you approved all those taxes, or at least said nothing when you didn't, and the old saying of speak now or forever hold your peace came into play!!!

"  Witnesseth, that the party of the first part, in consideration of Five-hundred Dollars ($500.00) lawful money of the United States, paid by the party of the second part, does hereby grant and release unto the party of the second part, their heirs and distributes and assigns forever,ALL THAT TRACT OR PARCEL OF LAND, situate in the City of (XYZ), County of (ABC) and State of New York, being part of Lot No. (00), Township (00), Range (0) of the (ABC) Company's Survey and further distinguished as Subdivision Lot No. (0) as shown on map filed in County Clerk's Office under Cover No.( 0).Together with the appurtenances and all the estate and rights of the party of the first part in and to said premises.To have and to hold the premises herein granted unto the parties of the second part, his heirs and distributes and assigns forever.And the party of the first part covenants as follows:First, that the party of the first part is seized of said premises in fee simple, and has good right to convey the same;Second, that the parties of the second part shall quietly enjoy said premises;Third, that the party of the first part will forever WARRANT the title to said premises;Fourth, that this conveyance is made subject to the trust fund provisions of section thirteen of the lien law.That this Conveyance is not all or substantially all of the property of the party of the first part and is made in the regular course of business actually conducted by the party of the first part.In Witness Whereof, the party of the first part has hereunto set his hand and seal the day and year first above written   "

The W2 I am cashing out and they are taking forever to approve it and get the money to me.

I appreciate that they want to do the best job in the world, but those types of contractors get in their own way and take FOREVER to complete jobs.

I'd like to partner with them to restore the property and rent it out for events, weddings, STR, etc. and potentially even sell off half the property for a high end private ranch.  

to me, this model ( 1 ) assumes that rent will just magically come in every month forever, and ( 2 ) defeats the whole purpose of why many / most BP members become RE investors. 

People aren't going to drop ship packages 7 days a week and live in their houses forever.

But it could also depreciate, especially if bought at current prices.You could hold the property forever.