My two cents worth of advice; don't cut your teeth on Class C as your first investment especially if you aren't within an hour or two driving distance.

Don't get talking about security deposits that's a sensitive subjectPrice points are much higher in Chicago in relation to Cleveland 

Bad carpet will (1) affect your ability to get it rented, (2) affect your ability to get market rent even if you do get it rented, and (3) depending on how bad it is, may affect the smell of the unit and/or sensitivity to allergies of your tenant(s).

Your suspicion is reasonable considering how sensitive the STR subject is.

The paperwork is very time sensitive where you need to specific the property you are replacing within tight time frames and close on that property within another time time frame.Your first question to find an answer to from a 1031 company is to see if you can still 1031 the proceeds of this first sale, now that it's already done and hte money has been distributed to you.Hope you can find a way! 

I listened to Ken McElroy's podcast, too, and I don't think that this is the type of property he would buy (or try to cut his teeth on).

In turn, the buyer pool more sensitive to the higher interest rate environment will sit out on the sidelines as well. 

I love excel and have created a cash flow model with sensitivities showing multiple properties and all financial metrics/ROE/IRRs and wouldn’t mind constructive criticism on it (DM me)4.

My understanding is that the landlord should run the applications in the order they are received, but the only way I can attempt to prove I was the first qualified tenant, would be to submit a complaint to fair housing, but I don't know if there's enough teeth in this to pursue.

If this hadn't worked I was going to have to show proof of funds in my Japanese bank accounts which because they don't offer monthly electronic statements in this country is like pulling teeth.