It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

To make the 1031 exchange work, make sure the new property is in the LLC's name, follow all the rules, like using a qualified intermediary, and pick suitable replacement properties in time.

Sounds like you have a great crew of motivated people behind you and you're doing your homework.. you'll do great!

@Oscar Toledo  Sound like you covered everything.I would add one thing.

It sounds like you need some education before jumping in.

It sounds to me like they are responsible.

There are ones with better numbers but they are in smaller towns where tenants may be harder to replace and appreciation lagging. 

I'm glad to hear that others choose turnkey (sounds like this could be a philosophical debate!).

I am using my newfound access to the MLS as a tool to source good deals and make educated and sound investment decisions.

Both him and his wife currently own the property in their personal names and plan to maintain that ownership structure when selling the relinquished property and purchasing the replacement property.