Is there significant deferred maintenance?  

I’ve also dealt with loans where payments didn’t even cover all of the the interest owed each month—those deferred interest. 

And use all of the proceeds from the sale in your purchases you'll defer all tax.This does give you some interesting options because you can allocate those proceeds anyway you want. 

May be you meant that the IRA has deferred-tax funds and not Roth?

The 1031 exchange will indefinitely defer all tax on profit and all depreciation recapture.

In each case, we reduced the pay rate and deferred the remaining portion of the foregoing interest until payoff.

-OOS investors in HCOL areas will buy properties that look good on paper without doing enough due diligence and then get crushed by capex and deferred maintenance.

The key is that in order to completely defer all tax you must purchase at least as much as your net sale. 

And it can work really well for you as long as you pay attention to the statute requirements.In order to defer all tax you are selling investment real estate and buying investment real estate of at least the same value you sold. 

If you sell, consider a 1031 exchange to defer taxes if you plan to reinvest in real estate.