First, not keen on living room being in the rear and visitors needing to track thru the house to get to it.

I am a frequent visitor to the courthouse sales and have purchased several flips and/or rentals there over the years.

No equity no deal IMO.Get together with a RE Attorney to ask or get the correct paperwork suitable/legal for your area.Find buyers by networking with investors, agents, brokers, lenders, attorneys, craigslist, bandit signs, newspapers, etc, etc...

Second, does the lease you both signed stipulate how long visitors may or may not stay, or that tenant may not sublease;if your Realtor used the standard TAR Lease then it should?

My immediate task is to work on finding a suitable property for a 1031 exchange.

Also, you can review the listings that you find to see you can get away with charging additional for the cleaning that will be required between each visitor to cover that.Finally, be sure to check the HOA's for the condo, usually condo's in resort areas have no "less than 30 day rental restrictions" in the bylaws, but most condo's in the city specifically forbid it.A lost note of caution is if the area is only good for skiing - one poor snow year and poof your profit goes away with the sunshine...

Normally this would entail a repeat visit or a remedy over and above a "service call".

@Evan Zierk Yes La Crosse is a beautiful area and one of the advantages of investing in places you like to visit or know you will likely travel to is that you can expense your travel costs.

The two reports should not be that far off depending on how much time passes and the change in suitable comps.Depending on the time and lender, you will have to supply repairs to that appraiser in order to realize any needed increase in value in short time frames as an underwriting guide to the appriasal.

The market is pretty competitive right now, and it can take a month or two to find a suitable property, not to mention the time between your offer being accepted and closing.