If you want to buy in capital hill and this is a way to afford something you otherwise can’t go for it, thing getting a nice car and ubering part time to pay for it.

Each former member is then free to either do a 1031 on their % interest or take the cash and pay the tax.The opposite manuever was more common until around 15 years ago. 

Tenants can only pay rent if they are employed at similar wages.

Does anyone know of any real estate brokers in California that offers the MLS-only membership as I don't want to pay all the extra fees to be a part of CAR/NAR.

I suspect the stock market and or building then selling a bizzness created a big majority of millionare wealth and or just high paying jobs and save your money :)

You can too, without being a wholesaler or an agent.You can walk into a mall to a jewelry store and buy gold, which is simple, but you pay a huge markup.

They develop, they build, they finance, they property manage, they will have HAO, cleaning crew etc. etc. etc. so the subsidiary companies make money every step of the way.From investor perspective: The investor pay $15 K to reserve the right to purchase 25 multiplex over the year of next 5 years. 5 each year.

Hot tubs pay for themselves.  

If you are not planning on doing the management, and in today's world it doesn't pay very well for the time,  then you can look for the best market posable. 

It's pretty common practice to have something like that in a property management agreement, and if it falls under that limit they're going to pay it and not notify the owner except in regular monthly updates because it is below the threshold of what is an ordinary expense in the course of business.