Prior, most syndications were structured as a Tenant In Common (TIC) structure for the 1031 exchange investor.As a result, many of the active DST players are either reinvented from the ashes of that crisis, or entirely new.There are some inherent (unanimous voting by all members to make any decisions) reasons why the TIC was replaced by DSTs, but I’ll save you the history lesson.The most useful lesson coming out of the last recession (and I share your perspective on the cyclical pattern coming around the corner ahead) is how different asset classes faired.You can get that data from public filings from REITs, who have to report far more data and intel than OTC private placement investments.Fast forward to the COVID crisis.

However, I've also considered establishing an LLC, possibly in California.

The next guests will almost certainly be upset that the hot tub is out of service for their stay and are likely to injure my near perfect streak of 5 star ratings which will injure search rankings and possible lose me bookings.

Of course I plan to have the cousin apply just as any tenant would, but would you create an entirely new lease?

I dove head first into them and now I'm fixing my entire portfolio.I'm experimenting with a few other groups in Detroit right now for both turnkey buying move-in ready units, rehabbing, and tenant occupied.

I'm not sure what's entirely needed, nor how much the needed pieces will cost, nor how long it will take.

I didn’t think it would be possible for me to get into REI at that point.

@Hunter Gibson I’m buying value add properties that need some rehab work and then getting them fixed up as soon as possible, either right away or as units turn over and then refinancing.

However you want to make sure that your deals are closing as often as possible so that you have a reputation as some one who performs.

@Kalen AdamsonNot tax advice as a cpa can respond but typically when you cash in stocks that gain is taxed (if owned for a while at qualified dividend rate).You could take the cash, hold money for taxes and put that money as a contribution to the LLC and then start investing in real estateIf you invest in real estate you may get depreciation etc whixh could be paper loss and potential reduce tax obligation but the entire picture needs to be looked at