If you do this for years then there can be quite a bit of deferred tax.Most investors will then do a last 1031 into something passive that requires no management and simply provides cash through the remainder of their lives with the returns from the deferred tax making up a large % of their retirement income. 

This makes it very difficult to qualify for an exception as it would be challenging/impossible to rent out as a "long term rental" - which I can't quite tell what is defined as.Any thoughts on strategies or ideas on how to deal with this, aside from simply selling and getting out?

Frankly I do not believe they are that bad you simply must learn how to manage tennats.

You will be saving lot of money doing rehab yourself, which is win-win for both the parties.

I simply wanted a question about loans answered.And the bank account analogy?

Seller financing is great because it can be a win-win for both parties.Are you determined to purchase this property in particular? 

Another way is to simply just drive around town.

I think we can expect Cincinnati to start to "boom" in the coming couple of years, as parts of the city (OTR/Oakley/Hyde park- where I live :) ) are REALLY starting to have buildings EVERYWHERE) + with Cincinnati winning the bid on the MLS soccer stadium/team to be completed by 2021, I think we will see some big things the next couple of years. 

If you don't speculate on the growing tech industry who pays really well, you simply can't buy anything in it. 

You can then develop your own plan not simply take random suggestions from strangers on line.