Hands down the most powerful advantage you have is house hacking leveraging owner occupied loans.  400k property in FL will cost you $100K using 25% down

My tenant friendly market (San Diego) has long term housing shortage that the tenant friendly laws mostly act as a balance of power. 

Maybe add into your lease that the carpet needs to be steam cleaned when they move out (they need to provide a receipt for the rental of the machine or from the cleaning service). 

A 24x24 shell with no heat or insulation and 15 amp power can rent for $600 a month.

But if not, I own a halfway/transitional/clean and sober house in WA and would be happy to answer your questions.

You need to do more than a day of fixups - painting, carpet steam cleaned, cleaning all drawers and appliances, exterior touchups.You have a "perfect" process set out, but it's one that will push you to make a bad tenant decision and not vet them properly.

If you can find people that are that stupid, to be a co-signor on anything, more power to you.

In this case, you’d likely want to work with a real estate attorney to make sure everything’s clean and the title is transferred properly.Good luck!

Then the partnership can be on title as the owner of both current properties and then the partnership can be the consistent taxpayer for a clean 1031 exchange.

I'll buy them and clean them up, but we wont participate in the program.