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. 

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.

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.

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

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

Do you know the manger said they replace the whole accounting department that's why the redemption being deplay.

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. 

You can look at a mobile home and see it as an easy rental with new carpet, trim and some paint but there are other bigger uglier expenses that can come up.Roof Replacement, soft floors (water damage) in kitchens and bathrooms- most floors are particle board, exterior door replacement (special order), underbelly insulation falling, bad hot water tanks with rotten floor underneath (real joy), bad windows (water again), bad bloated siding (water), water damaged base frame around perimeter of home, cracked tubs (special orders) and frozen pipes (Good luck finding a plumber to come work on a mobile home- they do not exist). 

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.

 Cleveland OH offers to pay for half of the sidewalk and apron replacement.