If you wait around trying to time the market for the best time to buy you'll be stuck on the sidelines forever.

Staying local would make capital the limiting factor where my restrictions out of state would be additional research.

Maybe you won't find anyone in his community saying they are not getting their value there (at least not out loud) but that's probably because saying anything at all critical there will apparently get you kicked out immediately (guess the community is only "forever" if you keep any constructive criticism to yourself).

A 1031 exchange is a great way to indefinitely defer the tax and use it to grow your RE portfolio, and build long term wealth.The most important factor in a 1031 exchange is that your qualified intermediary must be in place prior to the closing of the sale of your old property.

If you have a scenario that the area is being developed or other factors that indicate value should go up significantly in the future, it might also make sense to hold and refi your capital out. 

This factors in both monthly rates and vacancy.- What are your expenses?

Location plays a big factor into this question. 

With $170k to deploy you most likely will have that all in one, maybe two deals, if it doesn’t go well you could end up way worse off.That said, if there are other factors like the property is a huge pain to manage or you are worried the neighborhood may actually get worse or you know you need a new roof in a couple years, then I’d consider selling.Also, even though you said it’s not a high appreciating area, do you think 1-2% is fair?

For my thesis, I'm conducting research into the practices and motivations of small landlords in Ontario to explore how various social and economic factors influence their business strategies, day-to-day property maintenance, and tenant interactions.Could anyone refer me to someone who might be interested in participating?

@Kenroy BernardTo acquire a multifamily property in Long Island, develop a VA Loan Strategy, obtain pre-qualification from a lender, factor in renovation costs, conduct market research, build a team with experienced agents, network with investors, strengthen your business plan, expand knowledge through tools, and take action by searching for properties, attending open houses, and setting a closing timeframe.