Really there is allot to think about. 

Worth, I don't want to overpay for property - and that's what I'll have to do (especially with the time allotment required by the 1031). 

wow that seems like allot of work. 

Clear postmark will show that you tried to return it within the allotted timeframe.

Spending a little more now could save you allot more than money in the long run.If your own house is not that important to you then it probably will not be that important to anyone else that might work for you either.The prices that you mention seem reasonable to me already if not too cheap.

Smart for you to keep reserves on your own, however, but I'd never want them sitting in the mortgage companies bank account.In addition to letting your insurance agent know you need Non-Owner Occupied coverage now, you may want to entertain getting an umbrella policy as well for liability reasons, especially if you will not be putting this house in an LLC or trust.Also, talk to your CPA and make sure you understand fully how this will benefit you from a tax strategy perspective, as well as the documentation you'll need to keep and provide each year.Lastly, I would allot 8% to vacancy, 5% to repairs, 5% to reserves/cap ex, and 10% to property management, or 28% total ($364)

I am too busy with doing to business to go to allot of the meetings.

Hi Max,I guess allot of this is how you define a setback?

Both points make allot of sense.

What do allot of these acronyms mean, like CRE loan requirement?