And when it comes to alternative investments - I do invest in index funds, as well as some other stocks and a small amount of crypto.

And even in the toughest time in this market to buy, our clients were still completing successful 1031 exchanges well over 90% of the time. 

If not, I'd suggest posting on there as well.

We are doing the same since some time in Barcelona and the market is responding very well. 

Declining an investment only because of the absence of a sizable co-investment, even when all other aspects of the offering are exemplary, is an individual choice--right, wrong, or indifferent--it's the LP's money and it's the LP who should sleep well at night.

@Patrick M. that's a good, well thought out process, similar to what I do.

Also looking at the data on Rabbu and Airdna, Florence penciled well compared to Seaside.

These types of structures makes sense and work well but need to have a clear reason (and clear agreement)

You need to be well prepared to do fix&flip model.

Test the well for gallons pumping and quality.Have them pump septic at close ( $300 ish cost but you need to know condition)Roof?