Martin the property management argument isn't really an argument if you look at the bigger picture that most investors don't want to manage their properties anyways because they are spending most of the time on their main job.

Like @Russell Brazil said there are general things that need to be in place.One that stings a lot of people is the main entrance door.

We have learned so much, the main thing is that your architect matters a ton.

I live in a costly area, and this is the main stoppage point of getting me to just jump in.

Then, just three weeks before closing, my largest commercial tenant—who brought in as much monthly revenue as all 25 mobile home tenants combined—announced they were moving to a location closer to their main office.

Your main concern should be whether these bedrooms and bathrooms on the lower level are legal and have the proper egress require for fire code and livability.

This is a BUSINESS with a real estate component, NOT a real estate INVESTMENT.  

I'm assuming the main reason for the 1031 is to increase cash flow, right?

I currently live in Southern Maine and am looking to construct some kind of new project rather getting into rehabbing existing residentialProposed Land Budget 100-200kConstruction Budget: 400kAll in 500-600k.I have found that if I do the site work myself including clearing, septic and digging the foundation is that i can sub contract out either steel or a Lester style building (50x150) for around 300k installed with insulation and power , divided into three 2500 square foot units. 

Mainly because if I used that metric alone I would not have done my last 10 successful flips.