Given the scope of your work, a simple plumbing leak would not concern me, it's a $200 issue at the most and ideally, it's just another line item when you do rough in plumbing for the kitchen.Being in a Milwaukee suburb, I am guessing it's a 1960s ranch, probably with galvanized plumbing.

Finding borrowers won't be an issue, so I wouldn't worry about that piece, just making sure you have an agreement you are comfortable with and borrowers and properties you are comfortable with.

There are a couple of ways that you can address the 1031 Exchange deadlines. 

As long as you follow the guidelines properly, it's not an issue. 

We only disagree on what is basically a customer service issue.

Generally, a loss can only be claimed in the tax year when the investment becomes completely worthless or when there is a final determination that no further value will be recovered.If the REIT has officially liquidated, been declared insolvent, or issued a final report confirming that no additional distributions will be made, you may be able to claim the loss on your 2024 tax return.

There are cheaper one’s in D/F areas but I would be careful as those can create a laundry list of additional issues.

These are being issued by local "nonprofits" who are mass emailing landlords pretending to be section 8 tenants.

Interesting, I did not have the issues on mine when I first used but it take a while to get them confirmed.

I'm curious, have you run into any insurance issues?