Used those extensively and on big projects multi millions. then you had a redemption date usually 30 to 60 days.

How do you balance these considerations when choosing a location? 

Investors should therefore exercise significant care when choosing their Qualified Intermediary because of the critical role the company will play in the administration of their 1031 Exchange transaction.It is extremely important to note that 1031 Exchange Qualified Intermediaries are generally not required to be licensed, regulated, audited or otherwise monitored by any regulatory body.

However you want to rehab and upgrade this unit, so you might choose to fish add a new breaker (circuit) and fish a wire to that room and add an outlet.

I am in the research process for a multi-family unit.

Quote from @Monica Gonzalez: I'm looking to start with Multi-Family (duplex/triplex).  

They're all very similar in my opinion, and do about 90% similar functions.

There are significant details that I'm choosing to leave out regarding rent payments and balance left for the owner as you terminated the lease early. 

When you say multi-family, are you thinking of buying a 2-4 unit?

But thank you for reiterating that multi-units are worth it!