@Benjamin WeinhartMy experience on this tax forum tells me that highly technical discussions of the Code/Regs nuances are not well suited for this platform.That said, my 2 cents is that this issue is a matter of interpretation.

I would say the cost if it does become an issue could be high but that is a call you have to make. 

That's a ridiculously high insurance premium. 

I would also highly recommend you educate yourself on New York State tenant/landlord law, especially if you plan on self-managing.

The cost of eviction is really high in NYS, the cost of mismanaging an asset is even higher. 

To get accurate and up-to-date advice tailored to your situation, it's highly recommended that you consult with a qualified tax professional who can review the specific details of your syndication investment, your financial situation, and the applicable tax rules to provide accurate guidance.

Less than a week later, despite record-high interest rates, they received an all-cash $1.825M offer from a 1031 buyer and immediately accepted.

This might be a little weird but I came across the post because I'm looking for information about REIReply.REIReply is a real estate marketing system built on Go High Level's white-label plan.And I use and love GHL because it's more than just a CRM BUT it's not specifically built for real estate investors.That's where a company like REIReply might come in.You see, several digital marketing companies use GHL to run their businesses and many of them, my company included, have developed powerful follow-up systems.However, the problem is that GHL is only as good as the templates, campaigns, etc that are built within the system.While I have almost 20 years of digital marketing experience and can build effective and powerful campaigns for me and my clients, I don't have nearly as much experience in real estate.Ergo, I'm considering REIReply.If they are as good with real estate marketing as I am with my company's marketing, they have a killer deal.

I am planning to move this summer and really want to put my house up as an MTR given the high demand in Wilmington, NC!

Highly unlikely anyone would be able to buy that particular note, and if they could, it wouldn’t necessarily be at a discount.