Do you find it particularly challenging if you aren't in the same city?

Lynn -- this is a challenging issue.

well it really depends on the timeframe that you are working with and how credible your buyer is.1- shorter timeframe - challenge the second appraisal2- longer timeframe - resubmit the loan through a different lender, since its FHA they can still use the first appraisal, and then you order another second appraisal.....Appraisal is not an exact science, more than often it depends on the appraiser that you get.

The biggest challenge (and this is what I had to learn the hard way) will be to overcome the decades-long stigma that has plagued the neighborhood and get prospective tenants to sign on.

My challenge is using what I have been taught to determine the offer amount.

I'd get a little more targeted if engaging the police.

Now that my kids are older, I want to be professional about it, have fun(meet challenges), and use it as a way to achieve financial independence.

Make sure you read the contract either way and know what it says and means so you understand the rules of engagement you are offering.

Other success/challenge stories appreciated!

On 1031's all the exchange companies I talk to say that 1 year is generally held by the IRS to be viable according to case law and rulings for holding for investment purposes.Anything under a year and the IRS is aggressive to challenge the 1031.