And it also depends on your goals of cash flow vs overall wealth building and things of that nature.

I have most of it worked out and she has reviewed it, but questioned the section that stated the tenant was responsible for the costs of repair and replacement of all appliances.Is this typical to have the tenant pay for replacement of appliances that naturally burn out? 

Any suggestions other than waiting for natural market appreciation?

Our first rental we completely redid the inside (kitchen, flooring, bathroom, added a natural gas fireplace, paint, etc...) and choose not to replace the original 1960 windows.

Many times they'll have the flexibility to actually look at the nature of the purchase. 

Any concerns of the distributed nature of the apts?

I may have to look at mixing it up with flipping 3 and renting two or something of that nature.  

To complete an effective 1031 exchange takes proper planning.I have many clients that owned residential, hotels, businesses,etc. and are now up in years and want to be more passive in nature.

I for one wont respond anymore to anything that name posts.. since the posts are all negative in nature and in my mind mean spirited..  

We'd also be hooking up natural gas which means some extra plumbing.