I'm in New Mexico.

Move Toward Larger Multi-Family (5+ Units)Why: These qualify for commercial loans (no limit like conventional loans), are easier to scale, and cash flow better per unit.Where: Consider landlord-friendly, cash-flowing markets like in the Midwest and Southeast and some parts of the Southwest like New Mexico or Arizona (if not overpriced)Next Steps:Partner with an experienced property manager in one of those markets.Start underwriting small 6–20 unit properties.Get prequalified for a commercial loan or local bank financing.Consider seller financing or creative terms.2. 1031 Exchange into Better AssetsWhy: If you’ve had strong appreciation, selling low-cash-flow SFRs and trading up into MF or commercial assets can drastically improve returns and simplicity.Bonus: 1031 helps avoid capital gains and depreciation recapture.Ask: “Which of my SFRs are most equity-rich but underperforming?”

@Daniel Gwynn: I do not have direct experience here, and often when people post for referrals to syndicators they are fairly new to syndications, so take this as trying to be helpful, and skip over if you know all this stuff:Quick linkedin search of Danny Flores shows company has only been around since 2018. 

I TOTALLY missed last year's BiggerPockets Conference by about 50 minutes.It was held in Cancun (México), and I was living in Playa del Carmen at the time, just under an hour's drive away.But, I didn't find out about the event until the last day ... 😭😭😭... so I didn't try to make it.I probably SHOULD have tried, though, because I hear it was 🔥🔥🔥!

Just remember the property must be owned by the IRA, and you can’t personally manage or use it—all income/expenses need to stay within the IRA.2.First-Time Homebuyer Program:  This is what @Arthur Flores was mentioning. 

Regards, Jesus Flores

Quote from @Jesus Flores: Quote from @R.

My costs in time-developer issues after closing in Mexico have drained my life savings.  

Quote from @Jesus Flores: @Allen BerrebbiHi Allen, These are great questions!

I personally love Wisconsin and would definitely consider starting an STR there or in Michigan, but the heavy seasonality makes me cautious about winter income.If you’re on the road near New Mexico, you might want to explore some of the emerging desert or mountain markets out there, too.