So from the get go you may find that seller financing is a non starter if your properties are highly depreciated and secondarily appreciated.The 1031 exchange has a limited shelf life of 180 days. 

@Lane Kawaoka Overall, this is a stable rental market with slow rent increases (lots of supply).

Second, a stable asset that cash flows predictably attracts buyers who want relatively hassle-free stream of income and have a long term time horizon.

It seems like there is no good way to set the exchange up in a stable manner.

I think the pirate is more stable for work.

Certainly better than traditional equities over the long run and more stable too, in my opinion.

Shelf live over 10 years, and doesn't deteriorate like carpet over time (meaning it holds its rental appeal longer). 

If the area is stable or growing in population with multiple strong employers, then I'd be comfortable investing in the market at the right prices.

I’m comfortable being into this property for half or a quarter of buying at retail as I was otherwise shopping for stable rentals.

A very small proportion of the total available residential inventory trades each year because of the stable demand and influences above, which makes competition for the small inventory high and tendency for price competition on the upside regular.