Investors should therefore exercise significant care when choosing their Qualified Intermediary because of the critical role the company will play in the administration of their 1031 Exchange transaction.It is extremely important to note that 1031 Exchange Qualified Intermediaries are generally not required to be licensed, regulated, audited or otherwise monitored by any regulatory body.

What do you mean you are paying $400 additional dollars more than what you are paying now?

I was interested in something like owning a rental property as a way to generate some additional income. 

I also make sure to specify in the lease agreement that I need proof of coverage before move-in and that the policy should name me as an “additional interested party.”

Quote from @Zach Howard: Quote from @V.G Jason: Quote from @Zach Howard: @V.G JasonTo someone just starting out (only option of OOS) who can get access to 200k, but no additional financing at this time but an additional 50-100k max in reserve cash, where might you recommend they start - markets/property type/strategy?

Most likely a "discount listing" Owner pays realtor a small amount upfront to add it to the MLS.

We rehabbed the entire property and added an additional bedroom to each of the units.

These are professionals with additional training and a stricter code of ethics.

An umbrella policy for additional liability. 

Regarding insurance adding additional umbrella insurance is great idea.