The funds in this case were likely held in their individual name, and a death, bankruptcy, or other could affect the ability to close out and complete the 1031 exchange.The safety and protection of exchange funds should be of utmost importance, which is why you should always work with a qualified intermediary that has some sort of regulatory oversight; not just an internal audit or something, but real regulatory oversight with an outside, independent regulatory audit. 

I’m aware that I need to research the local regulatory climate and market saturation.

Bloomberg forecasts that with the 50-year loan and a conservative 50 bp rate hike, almost double the total amount of interest would be owed compared to the 30-year mortgage.Making 50-year mortgages a reality would require overcoming major regulatory, operational, and market obstacles.

Mostly paperwork.When routine non-compliance can multiply a property’s debt 3x above its market value, we’re no longer talking about a healthy regulatory environment.

As for Philadelphia, where I am from, you’re going to face older housing stock, more regulatory complexity, and neighborhood-by-neighborhood variability, manageable, but not ideal when starting out.Once you build equity and confidence, you can diversify into other markets.

I would call your States business and regulatory affairs office to see what your options are.

Many investors have shared experiences where providers operating across multiple states often face difficulties in maintaining deep market knowledge, leading to inconsistencies in property selection, regulatory compliance, and overall service quality.

If you just want to dabble to make some extra money and don't have the passion to go all in, it's a tough business keeping up with all of the regulatory changes and balancing keeping owners happy with taking care of tenants.   

Besides, If you disclose my personal information on this forum in retaliation for my negative review, I will file a complaint with the appropriate financial regulatory authorities. 

This includes making sure that the home meets all of the regulatory requirments to qualify to be a care home.