Your long-term income depends on whether the investment city attracts new companies that create replacement jobs with similar wages and skill requirements.

@Eric Smith A 1031 exchange with a related party is possible but comes with strict IRS scrutiny and holding period requirements.

The required POS inspections become one added layer to closing a deal, but as you’ve seen, some properties come with completed POS, while others require repair escrows that can add up to around 10-20k. 

This is not even close to the documents required for a properly drafted loan.

If you don’t know the legal notice requirements for your market make sure you figure all that out before you do anything. 

STRs do not require you to be a REP in order to take losses against ordinary income.

If they are pre forecloure/foreclosure, probate, or lists that require fast access to the lead to gain an advantage how new is the list and are the leads already on the prominant platforms like Propstream and Propwire?

Be patient and persistent when it comes to real estate investing; it's a journey that requires time and perseverance!

The stabilized properties operate fine without me but the development side of the business requires me 24/7.

Or does your financing terms require you to do something else (which is why we need to ask question #2).Maybe the original poster will respond as well but those are the 4 items I would tell you to uncover.