I couldn't locate the property to run rent comps based on the address, but if you're getting negative cash flow on paper, you may want to investigate things closer.

Id love to go into more detail about any of the above topics, but to keep things short-ish, I have recently hired someone that is going to be doing the things I havent had time to do to really grow the business.

@Simcha Davidman I'll bet that he had an @gmail email address?

On top of that they are relatively easy to sell, where something like a multi family has a smaller buyer pool.So back to the details..Purchasing my first condo with $30k cash, then another $10k, puts me at $40k total investment, I rent out for $800 a month, after all my costs I'm looking at $450 cash flow per month.

Let me share a few details to give you a better feel for the situation.THE DETAILS:FIRST, I'm a buy-and-hold, very part-time investor.

On top of that they are relatively easy to sell, where something like a multi family has a smaller buyer pool.So back to the details..Purchasing my first condo with $30k cash, then another $10k, puts me at $40k total investment, I rent out for $800 a month, after all my costs I'm looking at $450 cash flow per month.

@Sean Monahan could you go into more detail about the incentives from local companies?

Here is the address:799 S Stevens,Spokane, WA 99204Lower Level Conference CenterParking and accès on the North Side of the building.Feel free to reach out within questions,Dan Grishko

The address she gave me is for helping hands church in North Carolina not a convalescent service.  

In addition to the potential increase in cashflow by doing a 1031 Exchange, it would give me peace of mind as this property is the only one in my portfolio that is exposed to a high risk of flooding during a natural disaster as it is located in a very low lying area.I am happy to provide additional numbers/details if there is anything I am leaving out.