They look solid and well built, it's the high crime rates and the developing area thats my worry. 

If I purchased a home locally I’d have to ask well beyond the market rate on rent just to break even.

Your existing low interest rate mortgage is an asset that you likely won't get again.To Your Success!

Looks like this effort is moot until rates come down and we can refi.

Running the numbers on paper is one thing, but actually securing bookings at your target rate is another.Sounds like you’ve got a good handle on your market and what your guests are looking for, which is key.

Some are on septic and well systems and not regular water and sewer.The more you go suburban to urban core with upgraded construction the more the cap rate tends to drop but generally better loans available for well located assets and a strong tenant.Without knowing expected proceeds from the exchange, if you will add additional funds to the down payment, what purchase price you are wanting, what area of the U.S. with cold belt versus warm belt states, etc. it is hard to comment further.

Budget, how much will rent be, interest rates, how much down, and more.   

I believe the value would get passed to them and the current market rate. 

Quote from @Jimmy Lieu: Quote from @Andrew Syrios: The BRRRR strategy is tough these days (I even wrote an article about it that goes into more detail a little while back: https://www.biggerpockets.com/blog/beyond-brrrr-taking-advan...)In short, high interest rates as well as labor/material costs makes it hard to buy a property with debt and cash flow. 

Chicago is losing housing stock at an alarming rate.