That’ll help you get a better sense of which neighborhoods align with your investment goals.3. 

So to save 15% capital gain minus qualified intermediary cost does it make sense to do 1031 exchange in selling the old one and do 1031 exchange?

The deal can make sense even if it doesn't meet some arbitrary "rule" 

Sometimes it makes sense to pay the gains if there are not adequate replacements.

Self-Employment Opportunities: Would it make sense to start a side business related to my rental properties (such as property management) to access more deductions?

So it probably makes sense to send targeted letters to people who you're most interested in connecting with.Solid advice, thank you.

Meaning, if you take the money only, you would have depreciation recapture from your cost basis up to the original purchase price of the building (not including the land cost because it wasn't depreciable), plus a capital gain up to the insurance proceeds.Hope this makes sense. 

@Olga Daisel I think I would focus on getting your Westlake home and using other funds to purchase rentals that make more economical sense.

What states/cities make the most sense right now? 

For a long term investor:Would it make sense if you could buy the home at a steep discount and then let the owner stay rent free for a specific period of time?