In 2009, I bought a townhouse in California for $590K.Today, that house is worth about $1.4M, and I owe $370K on it.It's bringing in $4,500/mo, but after $2,430 mortgage payment, $200 HOA, and ever-increasing property taxes, my ROE is really quite pitiful.Furthermore, my tax situation in the country where I live (outside the US) allows me to sell the property without being taxed here on the gains, but only if I act in the next few years.Thus, I've decided to 1031 the property.Now, I'm looking for suggestions, guidance, and experiences from folks who've done something like this.A few criteria:I care about cash flow, not appreciation, at this pointI visit Phoenix and Newark a lot, so I'd considered those as markets, but I'm not sure how to evaluate themI was thinking to buy a large apartment complex... but not sure if that's the right move as opposed to multiple properties.I have considerable amounts of cash that I can invest into the new property if needed, though I might just invest that into other projects separatelyI'd like to move this new property into an LLC to help protect my other assets, but I have heard that would be very challengingAppreciate any thoughts or guidance anyone can offer!

Specifically fire code; fire escapes, fire suppression systems, stairwells, doors, etc.2) Insurance costs.3) Elevators.4) Parking.5) Security.These are over and above what I would already be looking at with a single story garden style complex.

I stay away from over complex stuff where the whole Universe has to align properly to get the expected benefit.I like more simple and sweeter lower hanging fruit.

Syndication is a complex business with a ton of moving parts! 

I'd like to firm up on agency financing and am looking for a clear and concise source to learn from. I'd like to learn more about the individual programs available for multifamily loans (apartments) of $1mm up to $10m...

In the smaller apartment complexes I have worked on (8, 10, & 19 units) I have simply formed an LLC for each property with my partner(s).

I'm beginning to remodel units in a small complex with concrete floors. 

Hello Susie, rents in the LHV range from $850 to $1400 in the normal 1 to 3 BR (excluding high end complexes).

(Most new complexes are being built in secondary and tertiary markets.)Faster appreciation.

You MUST do a title search.You should read this: https://easytitlesearch.com/which-liens-survive-a-florida-foreclosure/It has great information, such as: "...judgment liens, unpaid homeowner association or condominium assessments, liens for city or county services, and even mechanic’s liens by unpaid contractors who started on their jobs prior to the mortgage lien’s recordation all could survive the foreclosure sale and become the new purchaser’s responsibility."