HVAC is old but functions - ask for seller to get them professionally serviced if it is not done yearly. 

Should I combine the marketing of my PM company and my buy/sell RE services in one?

We use the collection service through our PM software, but most of these folks become virtually uncollectable at a certain point. 

If they have 3-5+ experience those high leverages are typically available.

Typically who pays the for the utilities?

And a deal in my opinion is one that will 1. pay for itself(All property expenses) and 2. pay the debt service(if necessary) and 3. put money into my pocket each month.  

(As I navigate my service business, I've realized that there are more lucrative avenues available.

Purchasing replacement property from a related party is typically prohibited except in very limited circumstances as outlined in I.R.C. § 1031(f)(2)(C). 

For instance, and in brief only using one concept (not meant to be the full list of criteria), a rural property has a population restrictions and proximity to Metropolitan Service Areas ("MSA" - think big city area) as some restrictions.

@Kaleb JohnsonRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?