The downside here is that NJ doesn't see the same level of demand or appreciation when compared to NYC.HERE is a quick comparison I put together for a client recently.All the best!

There are a few downsides with this approach:1) The Canadian taxpayer needs to have control over the LLC or cooperation from the other owners for the LLC to make the election;2) Going forward, the US corporation must pay US tax on its worldwide income; and3) Distributions out of the US corporation are subject to a high tax rate in Canada.C.

The benefit of turnkey is the level of passiveness and the downside is that you leave some money on the table, whether it be purchase price or management fees.

Downside is, I wouldn't have a lot of capitol to use.

The only downside I will say to it is you will have to be able to get your property to appraise but it should go with out saying too.

@Tarsha Stewart I would be interested in the downside of this as well.

Only downside is when you transfer rent received from Venmo to your bank account, it takes a couple days to clear. 

What’s the downside?  

There's really no downside to moving the money over to a 1031 agent (other than the fact that you're tying up the funds for a few months).But sounds like it was a well thought out decision.

I'd say the only downside would be continuing education classes required to be active or inactive the referral network.