Price Control policies have been proven failures and will be counter productive to our shared goals.We need good policy!

I do realize that if interest rates rise the options to extract equity become less palatable.I also recognize coastal So Cal is not the typical RE market.Finally I recognize some of my appreciation gains have been forced appreciation significantly aided by market appreciation.

We all placate this topic with "must do your DD...know who you are doing business with" but never seen a method or proven principles.

Your best bet (besides finding a HML) is to go to small local banks, who might be able to recognize the value in the farmland.Best of luck to you!

In general, capitalizing expenses is beneficial as companies acquiring new assets with a long-term lifespan can spread out the cost.So I guess he's recognizing about 1/3 of my expenses and the rest of the expenses he plans to deduct over time for future years?

If you have unrelated entities then yes they could swap properties with no gain recognized as long as valuations worked out. 

Its painfully clear that this is just another sales pitch and step 1 of them getting you locked into a coaching program but I suppose some newer investors still don't recognize whats happening. 

As far as being in the business full-time, yes I recognize that it's much more efficient to be a full time investor (and believe me it's what I'm shooting for) but currently I don't think it's the best option for me right now.

I recognized the tenants because they had applied to rent from us two years prior.

Since I don't have a proven track record, I may be getting ahead of myself as far as a lender is concerned.