It should not matter that the property is a rental property as the exclusion is available for both primary residence or other properties. 

Local examples I've witnessed result in selling the house (and evicting kids / grandkids), because young adults saddled with student loans, wage stagnation and transient employment have do not afford many the option to buy.

They will likely want you to sign an Exclusive Right to Represent as most agents wish to have some assurance in writing for the amount of work it takes to analyze properties and show.And ask questions!

Don’t go by rentometer exclusively.

To be clear, when you sell the property you later move into, the 121 exclusion would only apply to, or part of, the gain on That property.....whatever gains/depreciation recapture deferred in the 1031, attributed to that property would still be due.

Basically your IRA can buy a piece of real estate and as long as it its used exclusively for investment purposes, your IRA would receive all rental income to grow your IRA.I would be happy to connect and answer any questions you may have. 

.#1 - exclusion of the gain.

Seems to me like a good rental if its low maintenance but if you want the cash now to for other investments make sure to get it before the capital gains exclusion expires.

I have been self employed for most of my adult life.

We attend an REIA where another member has inquired about renting properties from us - he would sign a lease, pay market rent, etc but he would be using it to run exclusively as an AirBNB.