Between the year 2000 and 2006, the gifting requirement was not as stringent, but now with money laundering, terrorist activities, everything is sourced.

Even the attorney who took over the transactions for EquityBuild, who is even more ethical and stringent on procedures than your dad was, never understood what the issue was or what Gordon's concerns were.As Jayne said, EquityBuild produces some great buildings.

Recently a pre sale building in the downtown core (premium, high rise, luxury building that won't be completed until 2019) sold out in a week (after foreign buyer tax was implemented) and some of those units were up as high as $900 per square foot.Things were going crazy here fast so I think the cooling off period is good but I don't think we'll see any kind of substantial long term drop in the market.

The balloon is 3-years and I would be looking to implement the BRRRR strategy in order to do a cash out refi, and thus pay the owner off the remaining balance.  

I have already implemented your suggestions.

Heck, you'll be implementing CA codes and seismic loads. hehe

I appreciate you words of wisdom and hope to implement them soon.I've been reading and talking to dozens of people, but I'm someone who likes to take actions rather than wait wait wait.JV

Rules here are slightly stringent (yeah right, slightly), especially if you will rent it out you know how they are here.

Read, absorb, re-read, absorb, implement, inspect, pass, next.

I am buying fully stabilized B to B+ assets where the only thing needed is implementing my operations processes and dialing things in to drive some value.What makes that more acceptable is the fact that after property disposition they typically hit between 30-40% annualized returns.