Not sure if you can do a 1031 on that component of the sale.

Once you have a firm grasp of each component of the business, you can train others to do those functions or you'll be in a better position to vet good teammates. 

A primary component of a property manager is to stay in constant communication with the owner of the property as to the economic performance of the asset, and that includes everything from maintenance costs to evictions.

This would have been difficult to achieve with 3rd party management, as they are simply not capable of executing on the value-add component. 

In addition to the location, there are two more components: the tenant segment and the property.

I am exploring MF investing for a while, and this deal has all possible components of MF investing.

Could there be a escrow component of the  payment in there that is skewing things? 

The only real way to know all the lead components would be having a lead inspection and there are companies that specialize in this here (not sure about by you)For a rental you have to be more careful on lead because you need a certificate.

When it comes to cost segregation and bonus depreciation, the age of the property does matter somewhat, because there is calculation made between the 'real useful life' of those components as compared with the 'tax useful life'.

Spill the beans. don't know but what if there has been a 30k rehab done to it.. we see this all the time  you have a home that has been lived in for 20  to 30 years all the components are that old and ya I guess that sells for like you said a  35k price and its serviceable .but then you have a flipper rehabber buy it and do a top to bottom rehab for 20 to 25k  then sell and make 10 to 15k on it like all flippers do.. maybe that's what happening here..