When Im getting into mid October to mid November....I typically recommend to my clients to pull the property off the market, and relist around Feb 15th for townhomes and single families, nd possibly as early as Jan 15th for condos.

I think one of the biggest risks you face with Cash Out is interest rate risk.It's really difficult to predict where interest rates will be in a 2-5 year time period, so it can also be challenging to model out future mortgage rates.

As an out of state investor, Birmingham has proven far and away my most difficult city to rent remotely (it's one of five cities in which I have rental properties), mostly because of terrible property managers.

As you mentioned, it might be difficult timing the sales of each of properties where you can achieve a combined exchange (multiple properties into 1 property / or a few properties).Just a quick note that may be helpful - I work with a group of investors that can help with a combined exchange into a single property and will buy it back once you've found a replacement propertie(s) as the final destination for your capital.

From my experience, here are a few property management companies that my clients have worked with:ERA Solutions: They have a strong presence in C-class neighborhoods.Realize Property Management: Better suited for A and B-class neighborhoods, though they do manage some C-class properties.Ohio Elite Management: Primarily focuses on B and C-class neighborhoods.

I once had a client who sold a property in California and used a 1031 exchange to purchase in Arizona, thinking they were in the clear.

Hi Chad, @Denver McClure and I are working with a client on a 1035 scenario right now and it is an easy process.

For my clients, in every city I am set-up in I have an agent who pulls all the comps and writes up an opinion on the value based on size, area, finishes, market. 

This post does not create a CPA-Client relationship.

but if you're that leveraged, it will be higher risk and very difficult to cash flow - so that is not something I would typically recommend.