These are all important considerations, and understanding the requirements can save a lot of headaches down the road.

The PM business is not an easy business and most have fair fees for the work that's required.  

If yu claim one it doesn't void the option to claim the other one.Provided you meet the IRS requirements for both, as a tax strategy, you could complete exclude a portion of capital gains under Section 121 and then defer the remaining capital gains under Section 1031 (@Dave Foster is a great resource for 1031 exchange). ..

So when the bank requires insurance for the loan amount.. that will work generally.. 

They are able to make as many payments as they'd like throughout the month if that's better for them but they will need to make their payments for the current month in the previous month so that their balance is paid in full by the due date.

Often times police departments have policies in place REQUIRING officers to activate body cameras when interacting with the public.

Issues keep coming up and the students asked MF Capital to help with the $50k extra the lender is requiring.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

This requires more than I can type here in this reply, but essentially there can be more moving parts unless you do it in a sequence.  

Fannie Mae has a requirement that if you want to use the rental income from the non occupied units, that you MUST have a current housing expense which means you cannot live rent free.