There is nothing that replaces a live conversation with someone who has already built that trust with the sponsor over time.

For instance, states like California, Oregon, Montana, and Massachusetts have "clawback" provisions, meaning they may tax deferred gains if you eventually sell the replacement property and don't reinvest within the state.

I was able to negotiate about 10% discount that was purely circumstantial, I'll let time do the appreciating passively instead of running a 6 months construction project with holding cost.

A subsequent cash-out refinance of the replacement property (e.g., $250K on a $1M property with a $500K loan) is treated as a loan and generally has no tax implications related to the 1031 exchange.

If you want passive just invest in VNQ and withdraw x% in addition to the dividend vs getting pure distributions from a private reit, much safer. 

If you are just painting and replacing carpet, you still need to move into the home within 60 days of buying. 

Years ago when I started buying rentals I had some "interesting" experiences with cash tenants and I decided that in (Tenant Friendly Bay Area of) California when I had a cash tenant move out, I would only replace them with a Section 8 tenant.

We keep "kiddie" as we say backhome which is a pot of money set aside for rainy day fund in case we need to replace appliances, perform repairs or other capital improvements. 

I'm not looking to replace my w2 income with it.  

I.e. contractor pulled all the drywall out, here are the before and after photos, we replaced the studs here are photos, and then show a before and after mold test that was completed on the house.