These are prime locations, think near downtown or popular tourist destinations where demand for short-term rentals is typically high.

This is an area that home inspectors typically do not cover in their reports.

typically with seller finance there would be some period of monthly payments and then a balloon where you pay off the balance in full. 

The 1031 is only into like-kind investment real estate and typically is only 1-3 properties and therefore only 1- 3 markets.

You typically need to be in the $400-450k range to see those rents.

(The typical commercial loans I use are at 9.5% right now so be prepared for that.)4. 

You must exclude the land value, typically allocated based on property tax assessments or an appraisal, as land is non-depreciable.

Typically, if you have a mortgage, the mortgage company will collect taxes and insurance when you pay,  so there is not really any budgeting required for this.

@Kendric BufordRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Typically in my experience EVERYONE is happy to help.