It seems like there could be a lot of positives, but also some drawbacks. 

One drawback of Airbnb is that you would have to fully furnish the property which can be expensive.

Now as @Dave Foster will concur, Pennsylvania is the only state out of the 50 that will not allow the capital gains due to the state to be deferred; that means when you sell a Pennsylvania property, even as part of a 1031 exchange, there will be capital gains tax due to the PA Department of Revenue.So that is a drawback if you get a property in PA as part of a 1031.

I recognize the drawback with this approach is that all my units come up for renewal at the same time... but so far we haven't had major issues.

The biggest drawback is scale. 

Hi Jared,One of the few drawbacks of a flip is that the property is considered for tax purposes to be inventory.

So, I've seen a lot of info on the drawbacks of using a S-Corp to hold your properties.

https://www.cnbc.com/2017/02/02/tiny-houses-grow-in-popularity-yet-drawbacks-abound.htmlThanks!

My biggest drawback however is how do I get paid  after the deal is all said and done ? 

A few thoughts, though:On mine, there are three drawbacks.1.