Since then, my cabins have tripled in value - worth easily $800K or more, and have produced $696,XXX in rents.  

A 1031 must be for equal or greater value or the funds in excess of the value of the new purchase are taxable.

The property is valued at about $22m.

So, you can also calculate value using the "Income Approach".

Purchase price: $490,000 This is a unique opportunity to participate as a investor in a single family residence valued at $3M and higher.

I focus solely on Detroit proper because, in my experience, the rent-to-price ratios, opportunities for value-add projects, and overall market potential are much stronger there.That said, Detroit is a nuanced market.

I know a cost segregation study would be too expensive for such a small amount of property, but is it permissible for me to estimate the value of the components on my own?

How did you add value to the deal?

I have access to all lender appraised values in CA so I only need the address.  

Rockefeller understood the value of real estate, owning landmark properties like Rockefeller Center.