The other investors that I have worked with that have used the 1031 Exchange have found our proses and off market inventory very helpful in the transaction.  

Also remembered to play the long game, the entire southwest of the country will have no water soon and there will be mass migration to the Great Lakes bordering states.https://www.realtor.com/research/top-housing-markets-2024/ I don't like Toledo anymore.Too many out of state investors are here now making the market better than ever.It's frustrating growing the business so much.Preferred snail pace growth like when we first started hehe

You can easily google foreclosure procedure in your state.Now for the controversial part -- if the transaction is papered up correctly, you will have a right to foreclose. 

I ended up giving him some seller concessions (Which I ended up raising the price to make up the difference), he bought with a conventional loan, and overall was a smooth transaction.

You don't want to be unable to complete a transaction because the investor-buyer wasn't able to secure financing.

Bookkeeping software would likely note that a transaction took place, and maybe it would be able to categorize it correctly, but maybe not.

There may be a clause in the sales contract that the seller can't sign a lease during the transaction and your lease may be invalid. 

Cross-checking different information for inconsistency is a critical step.

Some common ones that come to mind in addition to a hot tub are a cedar sauna (gotta lean into that Minnesota sauna culture - check out Cedar and Stone out of Duluth for some really cool sauna ideas), snow shoes or cross country skis, or even just a nice outdoor firepit area with tons of firewood (you could also include complementary s'mores supplies for every reservation).  

Of course, normal piercing of the corporate veil analysis applies and you can botch it up by mixing personal and company transactions or by failing to follow legal formalities for the LLC.