Keep in mind, though, if you just sell outright, you could be looking at capital gains and depreciation recapture, so it’s worth crunching the numbers with a proper tax professional (I’m not one, by the way).What do you think the rest of the community has seen happen to property values since last year, and do you believe it changes the 1031 conversation?

With proper tenant screening and systems in place you can absolutely be a successful landlord.

., funding, management, deal sourcing) based on strengths.Bylaws to Include: Cover profit/loss splits, decision-making processes, buyout clauses, and what happens if the partnership ends.

Great credit scores and plenty of income from my W-2 source. 

I've done plenty of deals without and agent, off market not even on the MLS but I'm one of those wholesalers that did things properly, had qualified buyers before even reaching out to sellers and strictly stuck with assignments.Biggest problem is so many "wholesalers" barely have the understand of a deed or what title insurance is so there's an immense amount of knowledge they need before hand which can just be provided to them by getting a license!

The proper answer is "it depends" I don't know anything about your case.I do prefer simple over unnecessary complexity.

In the northeast having a second heat source in the rental saved  frozen pipes when the electric was out for days.

So, communication and assignment issues, as well as not being able to explain the maintenance issues and the required work.3) Proper documentation and quality of work issues.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

The specialist I recommend you have is an attorney to properly draft the documents and a title company to facilitate the deal.