i’ve considered multifamily multiple times, but finding the right person to help me that wasn’t just trying to sell mentorship seemed overwhelming.One of the things that I would want to do in an apartment purchase is to do more than simply syndicated.

Try to keep the tenant for 20 more years would be my advice personally.

It might make more sense to own the property and lease it out to an organization that does it and you could do a percentage lease rather than a flat monthly fee.It isn't for me but I'm more of a passive person.

An exception may be someone with a VERY strong personal financial statement. 

I don’t plan to use the MIL for personal use. 

Lesson learned on going into business without exit plans, I guess...For reasons out of scope here, I just filed my 2021 taxes and the IRS hit me with a $30k capital gains bill (not including interest or penalties).

I'm personally not a fan of 3/1s for MTR.

(Not really a surprise that CA makes life a little harder)The California Franchise Tax Board will require that you file a new form every single year (Form 3840) in which you detail what you did with your sale proceeds, where they are invested, and whether you ever recognized income from your sale or any subsequent sale.  

STRs that I could use for personal use (family vacations) once or twice a year.  

I personally reserve 15% of my rent per month for maintenance, capex, and vacancy.