We also did a 1031 exchange on one of our Arizona houses to buy one of the California desert houses.

I have thought about 1031 exchange into Midtown from other property but still, numbers are tough.  

I have an opportunity to JV with 3 other investors and I want to know how best to spread the risk and reward, fairly, while securing everyone’s stake by the real estate.We’re looking at a potential deal that looks like this:ARV: $400k-$425kMOA: $165k RB: $160kTarget net profit: $75kConstruction time: 6 monthsInvestor #1 has the acquisition funds.Investor #2 has the repair funds.Investor #3 is the General Contractor.Investor #4 (me) is the Project Manager & Listing Agent.If the GC and I waive our fees in exchange for an equal percentage of the net profit will that be fair?

 I am seeking a mentor with experience in raising private money for purchasing multi-family units, in exchange will help with remodeling, repairs and more...

You would want to do a 1031 exchange after about year 7 or 8 though as the tax benefits fall off after that. 

We would then use the 1031 exchange and invest in another property. 

We have extensive experience working with investors so please don't hesitate to message me and we can exchange contact info.  

I currently own 8 apartments which I will be 1031 exchanging and upgrading on the buy and hold side.

I'll send you my contact info and maybe we can meetup and exchange ideas. 

My plan is to ask local investors to work for free under them for a few weeks in exchange for some knowledge, experience, and wisdom.