Guess what your insurance company will say?

The first thing to know is that the 1031 Exchange Qualified Intermediary industry has no licensing or regulatory body. 

My wife and I own a couple duplexes in Florida, however with insurance costs on the rise, we're looking at Wisconsin, which is where my wife is from originally, and we're looking at small multifamily in Sheyboygan. 

I'm light on capital so paying a mentor isn't an option, but happy to split revenue (pay as I learn).I don't currently own in Florida, but from what I've read, the challenge is in even getting insurance.

One of my tenant works for an Industrial company in the area.

For instance, depending on your location insurance costs could be much much higher than indicated in the book, construction costs are a lot higher, etc. 

Networking is huge, so connect with others in the industry, and look for mentorship programs (there are some great ones out there).

The Economic Development there is focused on building competitive regional talent, diversifying the regional economy, transforming Montgomery's image and building diverse community capacity.Major economic drivers to the area include Hyundai manufacturing, Maxwell & Gunter Air Force Base, major Amazon distribution, Alabama State Capitol, Alfa Insurance, Kinpak, H2 Pharma, Dollar General transport/logistics, Dow Chemical, and Conner Industries to name a few. 

For the person that is letting you arbitrage their property, why would they choose to let you arbitrage their property rather than hire a professional, licensed, insured PM that has a team to run their property for them? 

Then they won't need an upfront payment for work they haven't provided yet.Also, get a signed contract, copy of the drivers license, contractor's license and be added to their liability insurance.