I just thought the urgency for me to sign it the increasing the percent he was going to give me was a huge red flag - I'm not signing anything without an attorney reviewing it. 

On the other hand if they are a sponsor that is experienced in stopping a skin in the game, that's a huge red flag for me.c) how open to scrutiny are they?

If so that can work in very specific red hot markets.. however experience has dictated to me over the decades that land can take a long time to sell .. many times has to be sold on contract to move it.. or if its cash you have to have the lowest price parcel of any similar ones on the market to move it timely for cash..

Austin has been a high growth city and likely is six to 12 months ahead in the business cycle as many smaller cities.Of those Three, San Antonio provides you the same legal backdrop (Tx) and also geographical access (same day drive) and accelerating immigrant population growth (GDP growth requires much more immigration both red/blue agree on this in private)

That is a huge red flag.

@Micheal RobinsonThis is a red flag.

Colorado loves adding red tape! 

You can see how this gets complex quick.On Building Big Infrastructure in the USAAnd, if I may be so bold, a note on larger infrastructure that obviously affects the real estate economy: What about large infrastructure project that get bogged down in litigation?

The other thing I notice and this goes from East Coast to west coast northern border to southern border is the poor have an affinity for red or black gauze like curtains.

On the upside, the potential for significant cash flow, leveraging your $800k equity, appreciation in Oakland's booming market, and the benefits of a 1031 exchange make it a bold move.