Assuming that's true, I would recommend looking for a replacement property (or properties - you can purchase multiple in the exchange) with value of at least $725K (selling price).  

If a landlord was responsible for each replacement it would add up quickly.

Insurance-  replacement costs.  

Many times, when i replace a water heater and take a look into some of the short pipes that connect, they are approx 80 percent closed. 

I know you said you don’t expect anything major on the properties soon, but I would take a careful look at what is most likely to need to be replaced soon and figure out how you would pay for that if it needed to be done tomorrow.

Additionally house tenants bring more of their own appliance, like refrigerator, washer and dryer; which means tenants are responsible for repair and replacement of their own appliances. 

Understand Replacement cost versus original building costs. 

Sometimes it makes sense to pay the gains if there are not adequate replacements.

Sewer line backup, ordinance & law, and replacement cost coverage are coverages I include. 

Here are some of its vitals:- Zestimate: $345K (I know this is typically 10% or so high)- Last Sold: 8/2021 for $281K- Roughly 1400 sqft- Some cosmetic work needed- $25K left on solar loan- The home was build in 2004 and it looks like it has the original AC unit, so I am assuming that needs to be replaced too. - 2 story house with very small rooms and and 2 steps down, imminently as you enter the front door.- Gated community and in a reasonable HOA. - The home is 2 payments behind and already got a letter from the lender about future foreclose.