I recommend continuing to learn pros and cons of each and determine which paths (I pluralize it as you should diversify even across real estate).

You can determine if the cost segregation study makes sense by speaking with your accountant and many cost segregation professionals offer a free analysis.

Deviations from the Private Letter Rulings will significantly increase your risk of structuring this type of advanced 1031 exchange.You should discuss this more advanced 1031 Exchange structure in greater detail with your legal, tax and financial advisors to determine your comfort level with this complicated 1031 Exchange structure and the inherent risks involved.

Consulting a tax advisor or 1031 Exchange expert is essential to determine if the benefits outweigh the hassle.Taxes Without a 1031: Without the exchange, your parents will owe capital gains taxes.

You start with a base line and introduce variables to determine their effect.You can see what trends have happened if you choose to, that may be of interest to you, but that isn't what currently interests me.

With that she can determine, of the cash received how much should be set aside for taxes, then gift the ex-spouse a potion.

I would also do a property walkthrough asap and determine if the tenant will be occupying the property until termination is possible or leaving.

If you decide to spend $8,400/year on this, how will you determine if you are getting a good ROI?  

Once I turned it into a LTR I was determined to solve it, so I had a very reputable plumber camera the line after it happened again.

Second would be once you determine a market, then connect with a local real estate agent, preferably one who is an investor is better and he could help connect with contractors, title companies, wholesalers, etc...