@Nikolai Alex the entry into a 1031 exchange preserves capital but when you exit a 1031 capital gains are required to be paid based upon the transferred basis from the surrendered property. 

You really have to watch out for fees - loaded to buy in, ongoing, and surrender. 

All the deeds say that, in the event of a default, I can take actual possession of the premises and, once the default is cured, I'd surrender the premises back.

Our AZ bkr attorney has strongly suggested we surrender the property deed in lieu of foreclosure, which we have done.

I would say that if you do start on this, don't give up or surrender early on, and have a good list of properties ready to go before you reach out to people, or you just end up annoying them. 

Here's a portion of Georgia law (underlining is mine):(a) Except as otherwise provided in this article, within one month after the termination of the residential lease or the surrender and acceptance of the premises, whichever occurs last, a landlord shall return to the tenant the full security deposit which was deposited with the landlord by the tenant.

They surrendered and moved on.You are playing a foolish, losing hand if you do not paper right away and continuesly!

You need to hustle all day long, you need to carve out your niche, you need the thing in you that refuses to surrender and rises up after every failure and goes on after hope is dead our of sheer contrarianism.The exact opposite of anything the gurus could offer you.

Unfortunately the only time you have the right to change the locks is if one of them is damaged or the person moves out and surrenders their right to residency

Be sure to check with the current provider for the ability to move to a more aggressive fund where it stands, so that you don't have to worry about new surrender penalties.