We are just starting out and looking for guidance on the right way to get started vs complex tax planning.

Simple plan that's seldom mentioned:  spend a few hours in L/T court each week. 

Servicing and risk modeling would add complexity since predicting borrower behavior and property values over half a century introduces significant uncertainty and cost. 

You can sell multiple properties and roll all the proceeds into one or two replacements without triggering tax, it’s called a “multiple relinquished property” exchange.The complexity mainly comes in timing and coordination.

You get to spend a lot of time with a lawyer in court.

This is a super complex business model end of the day. 

I understand how important it is to expand your presence in the online marketplace to reach a wider audience.Given the complexity and technical aspects of e-commerce, I would advise you to seriously consider enlisting the help of a professional e-commerce development company.

You should have some good economic reason for converting it.There is no court case or regulations specifically prohibiting this, nor telling taxpayers they can do this, from my experience, but again, you asking this question and it feeling a little "too good to be true" is usually a sign the IRS may scrutinize something like this, especially if done repeatedly. 

Being an investor myself makes it a lot easier to navigate the more complex transactions.

It’s a classic case of buying yourself a second, more demanding job.Min is right in saying that syndication adds complexity, but a larger property is the only one of those two options that forces you to build a true syndication business (i.e., a system for raising capital), which is the machine that actually replaces your income.The "sweet spot" isn't a unit count; it's the smallest deal that proves your capital-raising system works.