It depends on your financial strength, the quality of the property, how many properties you own, etc.I like to start with one significant expense and three months of vacancy.

@Byoung Bae would NOT recommend an inexperienced investor try to DIY manage OOS anything other than a Class A rental.The odds are against you and you will statistically lose a LOT of money.Read below for some friendly advice:-----------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

We have a solid system in Quickbooks and want to stay with that for financials.

If indeed a loss is taken on this which it sounds like is a fair possibility then if the agent was representing you the agents E and O will/could kick in and that's where you might get some financial relief.

Seek guidance from financial advisors or real estate experts if needed, and don't hesitate to continuously educate yourself about the evolving landscape of real estate investments.

I am a 37 year old high school basketball coach that is not very happy with where I am financially and am seeking a way out of living paycheck to paycheck.

A financial calculator and legal pad might work in the hands of someone who knows what they are doing, but that doesn't mean it's the best way to do it.

Hello Michael,I echo Jon, completing a 1031 of a single rental into DSTs in straightforward however we typically recommend a portfolio of DSTs for diversification and financial objective purposes.

I am sorry, I am not good with a financial lingvo, could you please clarify? 

Happy to post more details on the financials but for starters we owe 1060000 on a 2.25% VA loan.