But I agree with an above poster that $10 psf in tenant improvement seems low, unless you can find a turn-key tenant to occupy that will require very little renovation.In DFW, for 2nd generation spaces, I've seen LLs underwrite at about $25-35 psf in expected TI allowance (subject to the lease terms and tenant credit rating).  

For subdivisions, a civil engineer can help create plats and an improvement plan showing how utilities will be implemented.

To start with rental properties, improve your credit score (aim for 620+), save for a 20-25% down payment, and educate yourself with books like Real Estate Investing for Dummies.Research your local market using Zillow and Rentometer.

The emotional / confidence factor does matter when it comes to conviction to hold over the longhaul.4) Are you improving or decreasing in the quality of area you are going into in order to acheive this cashflow in PGH?

Thats how they know your properties condition has “improved”.

There's nothing left to cover expenses so you better have deep pockets to cover maintenance, admin, turns, etc.If you think you can quickly improve rents to a point that covers your expenses and pads your pocket a bit, then maybe, IF it hits your return threshold.If you're buying cash, then the mortgage is not a factor. 

FHA loans with low down payments are ideal for this.In the meantime, focus on improving your credit score and maintaining a solid financial foundation.

Hey Dave, since I have mortgages on these properties, would it make sense to bring cash to the exchange to cover the mortgage amount (or pay off the mortgage before doing the 1031) and improve the cash flow for the newly acquired property?

As insurance woes grow over the next couple of years, I dont see this improving. 

A post on recapture:People are concerned about recapture when they cost segregate their improvements and for good reason.Recapture is real, and those deferred taxes will need to be paid.But fear not!