In my experience, most mom-and-pop investors lose a lot of money due to poor management of tenants, as well as poor/deferred maintenance.

Instead of being upfront about the additional interest, they presented misleading figures that made it seem like I was getting a better deal than I actually was.

Down the road, you can also use the 1031 exchange to defer taxes as you go from property to property, as long as they are like for like.I hope that helps get the ideas flowing....

the midwest has lower price points than other areas of the US, sure, but it also comes with its own challenges - for example, very old housing stock, lots of deferred maintenance, and tremendous demand for the best properties."

We were collaborating with a local real estate agent who presented us with this MLS listing.

But if your goal is to earn tax deferred income and appreciation you can pass to your heirs tax free you can accept less. 

They would get that $500K tax free and the rest of the tax would be deferred in the 1031.A very elegant solution that puts $500K tax free in their hands now. 

He used to be a regular presenter at one of the local REIAs.

.- I am aware of my 1031 options should I want to sell and defer taxes beyond that 3-year date (and would need to continue to do so until death if I wanted to avoid those taxes instead of just defer them). - I believe the current rental situation I have is better than the property warrants.

The property was in horrible condition, pet odor, lots of deferred maintenance etc.