On the reno budget side, identify in what areas you can invest some sweat equity. 

Each state has identified their chosen their respective OZ's but that's about it. 

The biggest downside of a 1031 is the limited time that you have to identify a replacement property.

Once you sell the property, you have 45 days (out of the total 180 days) to identify a property (i.e. get under contract) and than another 135 days to close the sale, which get's you to the total of 180 days. 

Identify similar properties nearby that produce income as a resident and as a commercial property. use those numbers to do your I=RV calculation, but discount the income to arrive at a conservative number.

I would study the Austin MSA's suburbs and identify where the new offices are being built.

Sharad has some particularly good tips on identifying what neighborhoods you would want to invest in and checking in with the local police department duty sergeant with respect to crime statistics and desirability of areas. 

Hi @Melissa ManThere is little slowness identified in >300K houses in DFW metroplex.Little Elm and Denton Housing market is good, as both are in 150-250K range.Where did you buy new build for investment?

My advice would be to start listening to the podcasts religiously, from the very beginning to try and identify what your greatest interests in REI might be.

Basically, 1) if you travelled after identifying the propery that you bought but before the purchase , that would be added to basis.2) travel after buying the property might also need to be added to the basis, but there are some flexibility, and can be deducted.  3) majority of  the work done before renting will be added to the basis.