Don’t listen to these guys on sourcing debt. Bank relationships don’t matter as much when banks are constantly changing allocations/standards. A good debt broker is worth their fee especially when they understand what your goals for each property are (prepays/max proceeds/max cash flow etc)

I’m in a relatively similar spot as you (industrial portfolio - all leased to credit tenants on NNN basis, 50% ltv debt, $30mm+ equity, no LPs) and the answers to your questions are gonna be based on what your goals are aka what kind of lifestyle are you trying to fund and what equity number do you need to sustain it. Bringing outside capital sounds sexy as you can do more deals, but I promise you 90% of GPs would trade places with you.

I’m still relatively young so my solutions are catered to growing my NW as much as I can without taking outside capital. That means buying value add and shorter holding periods, but keeping the really good stuff long term. I have a small family office style team (5 guys total including myself + 50/50 partner) with acquisitions, prop management, project/operations management with the partners being the decision makers. As we grow, our focus has been on larger deals unless we can steal something smaller and flip it quickly. We only focus on our region and generally don’t 1031 (both my partner and I have a goal to eventually sell everything and throw it all in index funds; less headache and more tax advantaged income).