If you anticipate appreciation in the new couple of years, you may be better waiting because with a higher property value you may be able to pull more money out.

You need to anticipate how much more equity you will have in one year.

What does your anticipated SOW look like? 

From my (extensive) research and long list of books on the topic I anticipate many problems which will just have to be addressed as they come up.

Yes, I anticipate that any bidding with a party who intends to be the primary resident will exceed my "investor's budget". 

It doesn’t sound like the inspection was a big part of your costs...I am anticipating that as a bigger portion in MF than in your commercial example.

Find out if there are any special assessments currently levied, or if they anticipate any soon, whether or not there are any lawsuits within the association and of course whether or not they even allow short term rentals because some don't.

But, what if there is more clean-up and repairs needed than you anticipated and the unit has to stay vacant for a full month? 

It's a market I've studied for years in anticipation of retiring there.You've given me some things to think about, and I am very appreciative.

And the 1031 would not apply anyway since she would have just inherited it and it is doubtful that she will be able to establish her investment intent.But that's neither here nor there since the IRS anticipated situations like this.