Honestly I would say just try it out for 1-2 months and if its not creating a huge difference then just cut it off.

We have not done anything on the land yet because its very far from all our primary residences and does not have basic things like a well paved road and a water source.

I have not run into that problem, to be honest I don't even know if there is a feature agent in my area.  

I have excellent credit, $100k in savings, the lot value to use as collateral and about $500k equity in my primary residence. 

But honestly yes most agents are gonna pitch you, doesn’t mean you can’t get good information or make good connections but definitely understand everyone in real estate only gets paid if they sell you property. 

Chandler doesn't have much inventory in the way of 2-4-plexes as that area is a suburb of Phoenix and is almost exclusively single family residences,with apartment complexes sprinkled throughout the area.

This honestly isn't terrible for being out-of-state on your first reno, but expected.

The city is projected to add over 1 million new residents by 2040, with a significant portion of this growth occurring in the next five years.

Furthermore  once the 1031 intermediary get their cut and you also pay two sets of closing costs ( buyers now have to pay closing costs in some states ) as opposed to just one closing cost ( if not doing the 1031) it might be a “half a dozen vs 6 of the other “ scenario .Also one of the turn offs to the 1031 exchange is the interest rate will be much higher with todays rates especially since we would have to get an investment property loan which are higher than “ primary residence “ loans ..Will probably lower the rent asap ( have one more showing ) and then put it on the market .Thanks for the great advice Christian 

Is there a full-sized gym nearby that would be willing to waive their start-up fees for your residents in exchange for a referral from you?