Unless all the stars align, its tough to really do anything with that sum of money. 

@Jay Hinrichs yes the rent control issue has 2 major components: limiting rent increase and eviction controls (unless there is “just cause.”)  

The stars aligned for me.

I understand the valuation, due diligence and the value add component but as we all know without the track record the process is much more difficult.

My thought process is that if I am wanting to "retire" by 35, investing in my 401(k) doesn't seem to align with that goal very well as that capital is locked up until I turn 59.5 and can make withdrawals.

I would like to hear more about what you have going down that way as it might align with some of my interests also.

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

I'd recommend reaching out to him and seeing if your goals are aligned!

Triple RT what Nathan said above ^^You need to have as much alignment as possible. 

Let them know your strategy, your goals and what your business plan is to ensure that your business plan aligns with theirs and you can both work towards the same goal.