For hardwood, that will take much longer and I'd bet they'd walk on it or move heavy furniture before the top coat is cured and damage it.

I don't plan to buy anymore unless I do a 1031 exchange.

Your acquisition fee can be "exchanged" for your equity contribution.  

@Luke Davis If you can qualify for a conventional loan that is probably going to be your best bet.

Housing prices in Beloit are definitely cheaper than Janesville, and Janesville is (for obvious reasons) significantly cheaper to invest in than Madison.Can't be of help to the property management part though... we've looked and looked but haven't found a company we are comfortable with... your best bet there would be to join up with the Southern Wisconsin Landlords Association and network for a quick recommendation. 

The best bet is to take this commercial. 

However, newer properties don’t always cash flow well, and you’re giving up significant equity in exchange for a home that might not provide you much financial gain immediately.

This exclusion allows you to reinvest the proceeds from the sale of your primary residence without being immediately taxed on the capital gains.However, it seems like you might be considering a Section 1031 exchange based on how your question is phrased.

How does 1031 exchange works.

The best bet is to find an insurance BROKER (keyword) and have them search around for the best rate to see if they can beat any of the three I named.