Peace of mind is one of the biggest advantages when it comes to real Estate.

We don't intend to ever move back into it.From a tax advantage and overall investment perspective, would it be better to: A) Hang on to the condo long term if it's doing well, and when needed do a 1031 exchangeB) Sell within 5 years - as I understand it, the 2 year/5 year tax rule for us would be 17/24 months x $500, 000 = 354166.67 of profits tax free advantage.  

I'm expecting a continuation of the current wave of inflation, so locking in low rates is an advantage as far as I'm concerned.

Not sure which way to go but I was hoping I could get some advice on which would be the most advantageous way to go and also how to go about financing a rehab.

If I were you, I would consult a good tax accountant (CPA) regarding the creation of an entity to pay yourself W-2 income from.There are several possibilities and a good CPA should be able to tell you the advantages and disadvantages of each one.No, I am not a CPA looking for clients. 

Marketing I've done: Listed property w/ local property managers - they post on MLS and syndicates to Zillow, apts.com and craigslistI'm posting myself in off-campus forums and forwarding qualified applicants to property managers for showings April 15-30th (when I didn't have the property managers)8-10 showings mostly off Zillow/FB~3 Applications0 qualified renters/0 tenants bookedMay Stats:9 or 10 showings 4 applications1 tenant booked in unit #1There are 2 remaining units, unit 2 and 3, which were initially priced higher than unit #1 because they are slightly larger -- That said, I'm thinking that I reduce prices and take advantage of the higher demand in the coming months...Does this answer your question?

Obviously my main goal is to be to take advantage of the tax deductions while minimizing tax liability.

I don’t have any particular plans for the money other than to take advantage of cheap debt and use the money for downpayments on future buy and holds but I’m curious what others would do in this situation. 

Of course taking advantage of the "no eviction moratorium."

Not to get into too much detail about her and her family - she feels like they are taking advantage of her and also she believes her sisters are not being honest about the situation.