I am convinced that these markets are the hidden gold mine in RE investing today. 

The third property has a nice cash flow.I am wondering if there are steps I can take to reduce the cashflow issues of the 2 properties before obtaining another property, like pay down the mortgages or should I just save the cashflow from the third property to pay for any future expenses?

I position my inspections as 'planning for future repairs/improvements' which mitigates that whole 'he's here to get my security deposit' mindset.And, I would rather have the tenant with me than to have him later claim that something was broken during the inspection.  

.- Can't see a Senior-Only complex allowing Short-Term-Rentals (STR).If so, SELL.2) What is the history of Association Fee increases and how well capitalized is the Association for future repairs?

They were supposed to have it completed January 1st apparently, but their website still says "The Office of Tenant and Landlord Affairs will publish the Tenant Bill of Rights in the near future.

One key takeaway for future projects is the value of hiring professional painters.

If you opened the exchange with the intent to hold the property for investment, and then in the future circumstance changed which caused you to reconsider the use of the replacement property and convert it to personal use, then a period of time less than two years might be reasonable.  

I am thinking about the future and how I will purchase properties in the future.

This is critical because depending on your future goals and what we think the market is going to do, we can structure everything to keep more money in your pocket for the next deal. 

Dscr will be useful in the future for fixer uppers and unique buys.