Could you provide granularity on costs segregated and potential assets?  

If you do decide to have a "partial" 1031 exchange and use some of your 1031 sale proceeds to pay off debt on other assets, you'll just want to make sure that the improvement in cash flow offsets the tax liability that you incur from your partial exchange AND the lower rents from potentially buying a less valuable property with your partial 1031 exchange. 

You're on the hook to coordinate showings, answer questions, and avoid fair housing violations in how you evaluate and respond to potential tenants.

I mainly concentrate in the Dallas Texas area.I found a beautiful property with a lot of potential in a well-kept and beautiful street.

While I've been doing research, I would appreciate a local's hands-on perspective on the state of the market and potential areas to target.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

This is a Class C area potentially moving up to Class B. 

Is there potential for value-add? 

If you guys wanted to layer the entities, you can potentially do that where each of your entities are 50/50 owners of the new vesting entity.

This hands-on approach enables me to obtain useful information, allowing me to make informed judgments and alter my investment strategy as needed.Analyzing these precise elements of a property gives me vital information about its potential.