One your loans will be a higher interest rate, next you will have annual filings, the cost of a registered agent every year, and items like that. 

The other business I run is reselling, listing items on eBay & FB.

If this were my property, I’d run a detailed rental analysis (from what I’ve read in Forbes) to see if the short term route could outpace traditional leasing.

What were the biggest line items?

I’ll also amortize large items like roof over 20 yrs, and then add $100/mo/unit for general repairs.

We're also starting to scour other forums for possible investments outside the traditional MLS sites, and other areas like upstate NY. 

After adding those four items back in, it brings the complex to making around $6,500.

@Saul Vargas, to piggyback off others, sourcing a traditional SFH rental that meets your underwriting criteria will be complex due to interest rates and market conditions.

Quote from @Henry Clark: Quote from @Jake Andronico: Quote from @Arn Cenedella: @Jake AndronicoI’ve looked into them but have never executed one.Let me say they will be expensive and complicated.I think what you will find if one is trying to defer $50,000 to $100,000 in gain, it’s not going to be worth the time and trouble.On the other hand, if client is trying to defer gain of $500,000 to $1,000,000, it’s worth the time and trouble.I use First American Exchange for my own account a dozen times and they have been right on the money.Google them and reach out.ArnIt's definitely more expensive than a traditional 1031 exchange, but being able to secure properties upfront can be super convenient.   

Taking real time notes on deficiencies allows for clear understanding if the items make their way to a buyer repair addendum.