It was also difficult to give up 81 units in my portfolio but I had to remind myself that while I was downsizing in terms of # of units, I was upgrading in terms of quality of asset that I can see myself holding long term.SF is a crazy market but as you say, a few good deals can be lifechanging.  

If this transaction occurs the 2nd funding source agrees to give first right of refusal to my equity source to purchase the property back at say $11.5MM- if it takes two months, three months, up to say a max of 8 mos.  

I'm havng a hard time grasping that the lumber I would need to rebuild the house would be THAT much more expensive than say a house with the same sq ft in the suburbs that is 5 years old. 

And they always say a little more aggressive... ; )

@Nathan G.I think you would like " Mover of men and mountains" by RG Letournou.Rather poorly written compared to say a Grisham novel but I found the content excellent.He was a Christian business man /inventor who went broke several times and always came back strong.His wikepedia page is fascinating too.

Within that period of time, I felt that I will be in need of "security" due to say a mortgage/kids/family, and that will chain me from taking risks.

Would you say a “simple” single family or is the starting line somewhere before that simple house?

Let's say a 2019 Dodge Ram Pickup.