. :)  I am so excited to read post and interact with the other members.

If you are simply looking to improve property that was purchased years ago with exchange proceeds and are wanting to ensure you are not going to do something to cause "issues" with the original exchange, I agree with @Dave Foster that you are still utilizing the property as investment property so solely based on the facts provided, I do not see any issue with it. 

Some of the folks I interact with a lot prefer looking into the Tacoma market for their wholesales, flipping is still strong in that market and you may want to take a look.If you're looking to invest in Midwest markets for cash flow, I would start by searching for "turnkey" on BP and getting your education going from there.

Looking forward to the interaction and guidance from this community.Jim

Looking forward to interacting on this community!!!

Looking forward to learning and interacting with everyone.

Your doing great with your research and I'm glad you decided to interact with the community.

Looking forward to interacting and making new connections here! 

One other note: I thought you sounded familiar and after looking realized you were the guy in this post: https://www.biggerpockets.com/forums/52/topics/248...Take this for what it cost, but you are going to have a rough haul of it long-term as a landlord if you let overblown fears/concerns about property color your interaction with tenants/potential tenants.

BP podcasts, interaction with members, and attending a BP meetup helped me a lot with the process and accomplish what I set out to do.