Yes, do the tax exchange if you can.  

For instance, Berea is a charming college town, but the combination of local taxes and less favorable price-to-rent ratios makes it less appealing for investment compared to other areas in the state.Agree here! 

Consult your local CPA to calculate accurately and minimize your tax liability.

I would search the BP forums because your tax / legal related questions likely have already been asked.However, it doesn't hurt to still ask the forum what your questions are.

Property taxes creep up, exterior repairs , and a brand new HVAC last year wiped out $11k of reserves.

do not use a line of credit for a down payment. 

True re the prior poster, re this helping the seller save their credit, if you buy sub-to you will dramatically raise their FICO since the mortgage will show on-time payments.  

There are some programs through local government systems where you may be able to receive a tax abatement or grant here in Michigan in an effort to help beautify a neighborhood.

I would stay away from section 8, pull credit and background, and call referrals, and look at pay stubs for everyone who applies.

Selling the property within your Solo 401(k) and returning the proceeds to the account simplifies compliance and ensures tax-deferred growth (or tax-free in a Roth Solo 401(k.)).