Working with a knowledgeable 1031 exchange advisor or real estate professional who understands market cycles can be key to timing your transactions effectively and avoiding the pressure to buy at a peak.

Hello I'm a real estate agent in Ensenada and Rosarito, we know how  airbnb model works and is a very good invesment.

You need to ask a real estate attorney about your question but just a thought before you go that direction. 

We are definitely looking at the high appreciation rates hawaii has and the stable rise in real estate.  

You will HAVE to take some form of deprecation as it is not optional in real estate.

Also, I had to set it up with real estate specific categories and I'm not an account / bookkeeper so this go really messy. 

We are G&R from Calfornia, passionate about real estate investing for the future.

I agree with @Joe Villeneuve.Real estate investing requires a certain set of service providers (RE agent, PM, lawyer, accountant, bookkeeper, contractor, sub contractors, handyman, etc).

Once the plan has invested into assets like real estate or securities, that value is no longer covered by FDIC. 

Is it a real value add or will it add more stress and complication to the manager's already busy life?