Contractually, I'm sure I'll be on the hook for something based on their PM favored literature, but can I contest that they have done absolutely nothing for me, including not paying me as my defense?

Again, not unless its actually that your gross income (including cleaning fees) is 100k a year and your gross rents are actually only 75k. 

We don't allow any "deal-making" in the forums, which includes advertising your services or properties, looking for partners, etc.

Make sure to also include in your calculation all the associated costs of those homes (maintenance, cap-x, management, vacancy, etc) then include the selling cost of the home since the appreciation isn't unlocked until you sell the home.

These are the different properties that are included in the 1031 exchange requirement: commercial buildings such as offices, schools and different establishments that are important for the population, as well as single family rentals, multi family rentals, industrial facilities, and even raw lands are included in the like-kind.

You might be referring to income / expenses that are reflected by cash.Cash you receive from rentsExpenses that you pay out such as insurance, interest, taxes, etc.You may not have included depreciation expense which would bring your taxable income down further.It may be possible that the negative taxable income would bring your taxable income down.

These include accidents (I recently had 2 units destroyed by fire), natural disasters (I have had two units each hit by 2 hurricanes), property management turn over (they sell or stop being as good, I have experienced both), or turn over of team (I am turning over at handyman and I suspect plumber), or just wear n tear of property (slab leak in poor location, sewer pipes rotted out (one unit this month), roof, foundation issue, etc.).  

My aspirations include becoming a real estate developer, so I want to learn as much as I can.

@Sam Dal Passive activity gains, such as those from a sold multi-family investment, can only be offset by passive losses, including accumulated ones from prior years.

These risks include, but are not limited to, lack of liquidity, limited transferability, conflicts of interest and real estate fluctuations based upon a number of factors, which may include changes in interest rates, laws, operating expenses, insurance costs and tenant turnover.Investors should also understand all fees associated with a particular investment and how those fees could affect the overall performance of the investment.