If I had cash I would be in on those deals. at sub 100k, some of these places can nearly make the 2% rule...a tough proposition in the seacoast.Rochester I think is 15+ years away from the benefit of this I believe.

I'm primarily interested in buy and hold due to the strong rental market in my area (large military population), but am open to potential "flips" if that's a better proposition for a particular property.

Narrowing a list of prospects to market to is a smart proposition for ANY business, from wholesalers, to the local spa dealer. :-) 

In other words, is a 1031 exchange an all-or-nothing proposition?

Keep in mind it is not an all or nothing proposition.

Obviously this is a risky proposition.

Meiers does not stand for the unlikely proposition that an 80-percent allocation to buildings always or generally is reasonable, as petitioners suggest.

Applying for an intermediary site is a low value proposition in my opinion.  

You can also talk to commercial PM’s and brokers in the area to give you an idea of demand.As for the Vape shop that’s a risky proposition these days and not the kind of tenant I would want anyway.You need a commercial insurance company to write the policy.  

All of that and more, the TOTAL value proposition of the property, is built into the price.Midwest is a pure "cashflow is king" area because appreciation is so unlikely.