While newbie's following some guru don't get anything under contract or contract at too high of a price and can't wholesale it and leave the business in short order.

The size of the datapoint tells you how big of a population each city has. 

It’s one of the few markets where you can still find solid cash flow opportunities while also getting long-term appreciation.

Brett, They could start a multi-member LLC that both of their SDIRA LLCs are the members of, yes?

First of all, I applaud you for all of the great work you've done.  

I've grown a 70+ door portfolio BRRRR'ing in just 3 years. the creative hybrid method is what I think can be done at scale. buy one BRRRR with the Heloc and every year move to a new small multi family BRRRR with low money out of pocket. as your capital grows you can grow faster and faster

But the standard is still your intent and how you can document that, rather than a set time.If you did decide to do a 1031 exchange, one of the requirements is that the title holder/taxpayer for the old property has to be the same for the replacement property, so if you decide to put the property in a multi-member LLC that files its own tax return, then the LLC has to also purchase the replacement property.

Tenants in California are the only ones who benefit from a lease. 

I think the biggest one I touched on at the end of my last answer.

Quote from @Ashish Acharya: @Stephen Nelson This is a great topic and one a lot of investors get curious about.