Rural investing is neither "golden fields a-plenty" nor is it a "barren-waste-land", it's both, either, neither, all depending on what market areas, demographics, how you operate and a host of other factors.

We were looking for a new personal residence with the potential to add value through cosmetic repairs and landscaping.

You might need it to be approved by the fire department, water department, landscaping approval, parking, zoning, etc. 

Use 10k to paint the house and do landscaping to raise the value, and take the 30 to 40k extra and put it as a down payment for the new house once we move.Does it make sense to refinance?

But this is where I see the most 1031's fail - They're not zeroed in on a class, demographic, or geographic before their sale happens. 

@Alex Uman Unfortunately, I feel like those prices would be a bit high if my target demographics were students given the current condition of the property and it's distance from Temple University itself.

So I looked at as much data as I could find; SEC filings, county records, demographics, loan data, commercial lender disposition, etc.In the end, I find that I disagree with my initial thinking, which if I read you correctly was consistent with your sentiment.I do, though, believe in facts (referring to "They can throw out all of the "facts" they want".)

Choosing $1,750; pretty much just going between the Zillow and Rentometer values.Total Expenses: $1,717Property Taxes: $1,500/yrInsurance: $1,200/yrMaintenance: $122/moCap Ex: $140/moPM: 9%Vacancy: 5%Mortgage: $985/moDown Payment: 25%4% interest30 YearsI also tossed in $10k for improvements, like for the stairway railings, improving the deck, the basement ceiling looks weird, landscaping improvements, other things that might pop up.

They couldn't' even fathom today's e- commerce landscape. 

There were cleaning , landscaping and damage expenses deducted from her deposit.