And super low inventory means no discounts, even for properties in rough shape.

Even though these expenses are rather low, it's important to compare them to the advantages the LLC offers.Umbrella Insurance: An alternative to forming an LLC for asset protection is obtaining a robust umbrella insurance policy.

Imaging if you close on a deal with low cash-flow today at a 6.5% interest rate and then refinance at 5% in 5 years after paying down some principle.

Then go to the Lowe's outlet in Avon and get a cheap set for less than $500 total. 

Should be closer to low 7s

I work with institutional capital as well as a variety of private money resources to finance such things, but don't again, don't expect to find "low" rates and fees for such.Many investors I come across run into this problem with financing even though they've built up a cash cow... it is hard to understand sometimes, but be aware of the challenges and make sure you have financing options in place for what you are doing before you jump too far in.  

However dependent upon taxable income you could get away with a pretty low tax bill due to favorable capital gains tax rates.Be sure to work with a qualified intermediary and a tax professional to ensure you comply with all 1031 exchange regulations and to be sure you keep basis correct as all a 1031 does is defer your gain.Happy to help run some numbers or do some basic analysis for you if you would like. 

We were interested in this one because we could purchase it for a low price.

If they are low revenue and high maintenance or not...

I can't figure out what the economic forces are in the community driving the high rents and relatively low purchase prices.