Frankly, this is a rookie mistake that shouldn't have occurred had you done some research. 

Rookies that we are, when we first heard about the 1031, we thought we'd be able to take the profit from the sale (say $100K, just for argument) and then buy a house outright here in Nashville for $100K and be off to the races. 

If documents of your transaction are in error and you have an insured closing, costs to correct the matter are covered.

As well as that book is written, it isn't capable of carrying a rookie through a 100k gut renovation all by itself.  

Most people can't do all of these things well right off the bat.If you can become an expert in one helpful area and then partner with an existing operator you will benefit twice - once from your deep knowledge of a certain aspect of the business, and again from working with an operator who as already made the rookie mistakes.  

The errors in grammar and spelling reflected my mind of the moment when the post was written, turbulent and out of focus. 

Best type of learning is from trial and error and you still made a decent profit!

I had one for a long time, but there were tenant complaints, conflicts, and too many errors.  

Being new to it, I would suggest buy and hold first...there is more of a margin of error in the buy and hold if you pay to much, its ok as long at it cash flows.  

I have modified my letters and envelopes so that these types of errors are less obvious.