I admittedly have a bias against condos for the following reasons:1) HOAs - both a lack of control over fees and assessments, as well as potential regulation changes2) they don’t appreciate as much3) you have to work a lot harder to differentiate yourself from your neighbors. 

Transfer the water meter to their control. 

This would allow you to keep the current mortgage and keep entire control of the property.

While many of these issues are important considerations and should not be ignored or overlooked, there are other more crucial criteria that you must question and evaluate first.The critical risk criteria that you must review and evaluate prior to making your final decision on which 1031 Exchange Qualified Intermediary to retain includes, but is not limited to, the following areas:Technical capability of the 1031 Exchange Qualified IntermediaryInternal processes and audit controls to safeguard your 1031 Exchange funds and assetsUse of Qualified Trust Accounts or Qualified Escrow AccountsDecision criteria and guidelines for investment of your 1031 Exchange fundsProtection from potential errors or omissions by the Qualified Intermediary (E&O Insurance) Protection from potential theft or embezzlement of 1031 Exchange funds (Fidelity Bond) An experienced and professional 1031 Exchange Qualified Intermediary will understand these concerns and should be happy to discuss these crucial issues with you.

So, YOU or a project manager or a designer or a partner would be more ideal to have control over the scope of work. 

Or any game that aims to reduce FICA.However, among other advantages, a partnership allows an even better control over your FICA taxes via guaranteed payments - a partnership's version of W2.  

Yes, it's actually possible to control mice by acting like an adult and dealing with them.

If so then the chance of them defaulting on your seller finance terms is high and you’ll still be affected by the same problems with the property that exist now, you’ll just have much less control over it so your risk “being the bank” on this property is going to be high. 

This allows you to control renovations and decide whether to self-manage on the back end.

In a syndication you have low control and also limited liquidity.