Unless you are doing all of the maintenance yourself, figure about 5k yearly for touching up paint, repairing misc. items the guests break, bikes, kayaks, BBQ grill, pool maintenance, lawn service, pest control, replace TV remotes every time someone checks out. 

I'm at 2200 Sq ft with 3 bedrooms, a major living room, and a climate controlled finished Florida room. 

Smart property management systems leverage IoT (Internet of Things) devices for real-time monitoring and management of property conditions, from energy usage to security systems.

These properties will require more of your time and probably more hands on then the general flips.Also, the further you are away from your property the more control you will lose of it. 

The Seller does not "Control the Appraisal".

Those aren't always nice and could range anywhere from $500-1% a year...that's for sewer and water or flood control improvements. 

Direct Ownership: In a 1031 Exchange, investors retain direct ownership of their investment properties, giving them control over property management and decision-making.

Owner shall pay, except as provided elsewhere in thisAgreement, all expenses incurred by the Agent, including, but not limited to, reasonable attorney’s fees and Agent’s costs andtime in connection with any claim, proceeding, or suit involving an alleged violation by the Agent or Owner, or both, of any lawpertaining to fair employment, fair credit reporting, environmental protection, rent control, taxes, or fair housing, including, butnot limited to, any law prohibiting, or making illegal, discrimination on the basis of race, sex, creed, color, religion, national origin,age, marital status, or mental or physical handicap, provided, however, that the Owner shall not be responsible to the Agent forany expenses in the event that Agent is finally adjudicated to have personally, and not in a representative capacity, violated anysuch law, unless such acts and or omissions are outside the course and scope of Agent’s duties hereunder.

If you're trying to control your rent, owning and not leasing is the method to do so.

This will enable you to bypass the custodian and have "checkbook" control over your IRA account.