Biden rolls out 'Renters Bill of Rights' as lawmakers push for federal rent control lawsIn the face of , President Joe Biden is the White House is calling a "Renters Bill of Rights" in an effort to improve rent affordability and protections for tenants.https://finance.yahoo.com/news/biden-rolls-out-renters-bill-of-rights-as-lawmakers-push-for-federal-rent-control-laws-133846254.htmlIn the face of sky-high rents, President Joe Biden is rolling out a new set of principles the White House is calling a "Renters Bill of Rights" in an effort to improve rent affordability and protections for tenants.The president is directing the Federal Housing Finance Agency (FHFA) to examine limits on rent increases for future investments and actions promoting renter protections.

Aloha,Based on age alone, and depending on environmental exposures, you should examine windows and walls, interior and exterior for any signs of water intrusion.

Examine all the paperwork.

Rent from any location but examine the street. 

These are the compliance auditors and examiners for institutions generally, this is still a gray area as you may have a small bank officer who has had to self-study through this maze , then you may have a compliance officer from a large institution who has attended formal training, so consider that. 

@Mike Haikin I've never seen septic failure insurance, but that doesn't mean it doesn't exist.Preventive care is the best policy.In addition tanks should be pumped every 3 to 5 years and examined for damage.Nothing except toilet paper down the toilet.No paper towelsNo baby wipesNo tapons, pads or other productsNo garbage disposalNo gasoline, paint, thinner, or any petroleum product.No riceNo coffee groundsNo food scrapesNo drugsNo household cleanersNo condoms (There's a story about somebody having their septic pumped. 

Aloha,The PM/handyman should have closely examined the area for the source of an apparent water leak, and repaired the source immediately.

Here are just some examples:Loan collection reportsAll telephone collections must be recorded and kept on file, a monitoring program and training must be in place.Toll free numbers, payment books or EFT arrangements made, notices of changes of payment or address at 90 days, active accounts with contact information are confidential requiring security measures, accounting software must be verified compliant, there must be a loan resolution program in place dictating how and when complaints are transmitted, issues addressed within the required time frame, offers of any modification noted such as allowing a few more days to pay without penalty is a modification, must be recorded and portfolio servicing records must be on file in good form for examination, I could go on.....There is the law and there are matters absent of requirements or exemptions and there is then reality, you're right, third party servicers are not required for small lenders, compliance with servicing requirements are.

The buyer uses the loan funds to acquire the property, and then escrow delivers those funds to the QI for use in the exchange.CONCLUSIONWhen combining a seller carryback note with a 1031 exchange, it’s important to carefully examine all the options and consult with your tax advisor and First American Exchange prior to setting up the transaction.All the best!

You have to thoroughly examine your expensive investment, else you may greatly pay for it later.