I have actually envied some of the numbers i see there but dont know enough about that market and am not ready to start investing in that direction yet.

I asked our manager about reducing the rent but he said we are asking a fair amount and we are getting lots of interest but a lot of cancellations, no shows, or people who don’t follow through with applying or don’t meet minimum credit score.

Even in the US when you have a mortgage, you should have a profitable investment if it satisfies the 1% rule.The 1% rule is generally applied to long-term rentals.

Since you are only selling the development rights and not the entire property, the existing mortgage on the building does not directly impact the 1031 exchange of the development rights.

Do you have a direct booking website?

That’s a little south of Austin, Texas.Can somebody make any recommendations or point me in the right direction to find someone like this? 

It should be pretty accurate - high level data sites are not always going to be perfect, but should always be directionally correct and AirDNA has a pretty strong track record. 

That's already in the law and applies to floors, windows, lawn, etc.

Once they exercise seller financing, the property is sold and all 1031 rules apply. 1031 has specific timelines.

Give them direction.