Do you have experience and know the cycles of your market so you know the best price?

I think that 1031 investors are savvy investors who recognize that it's not very realistic to think that you should be able to sell your property for top dollar and buy your replacement property from the bargain bin.  

I was their best option.

Easy access to the Shore Acres recreation center and the new middle school.A short drive to the new Whole Foods and the 4th Street corridor.

My guess solely looking at your numbers is that it's an older/distressed property which means you have to account for more costs in capex. 2nd thought being it's not in the best of neighborhood then you'd have to take into consideration lower quality tenants/ neighbors and maybe increase expected vacancy and late payments.

Quote from @Marc Zak: In the market where I live (San Diego), appreciation has been strong and many predict it will continue to appreciate in the long term.However, with current interest rates (6% at best) and property tax (2%), the annual cost burden is 8%.Am I correct in saying that appreciation has to be above 8% annually (plus whatever my maintenance and vacancy costs are) for me to make any money in this scenario if the property is cash flow neutral?

In case you missed it, Detroit' Mayor Duggan announced that the value of houses in the city increased 23% in 2024.In the last 7 years, Detroit housing is up over 300%!

If you decide to move forward, best of luck to you.

i wouldn't tell you where you should move since i don't know you.also, a lender would be in the best position to advise whether you qualify for a specific loan. 

One thing you will want to explore is the tax rate in the specific counties you are looking in.