Unit was in decent condition so we did a light remodel and relisted.

Both houses were in poor condition. 

how many houses are in good condition?

The property was in horrible condition, pet odor, lots of deferred maintenance etc.

The property, located in a desirable rental pocket, boasted three bedrooms, one and a half bathrooms, and functional central heating and air conditioning systems.Our financing arrangement spanned 30 years, resulting in a monthly payment of $990.58 covering principal, interes What made you interested in investing in this type of deal?

I have been investing in residential and notes in the past; but given current market conditions, CRE is the more lucrative strategy, I think. 

For items he stole, figure out what their value is (not replacement, but how much it is worth given its age and condition). 

It depends on the asset and its condition.

A 1031 exchange is a great option, but only under certain conditions if you end up making money.If the property is performing poorly, it makes sense to sell and put your funds elsewhere, unless you have a buy and hold strategy and you are okay with riding things out for a bit.Single family home rentals aren't what they used to be in terms of profitability.

Market conditions, economic factors, as well as buyer tastes tomorrow will determine its future.Good luck!