I don't find anyone abusing heat or air conditioning and since I provide all utilities including the Internet, I have actually come too appreciate the simplicity and additional control I have.

For you it'd be less risky and less debt to use the 1031 approach. 

On a cursory review, it appears that your cost of debt exceeds your capitalization rate, suggesting negative cash flow.

This means the state debt should be paid instead of the lender in this case.   

By focusing on building relationships, seeking guidance from experienced investors, and staying informed about local market conditions, you'll be well-equipped to achieve success in your real estate investing journey in Georgia.Best of luck, and feel free to reach out if you have any further questions or need additional assistance!

These factors contribute to each opportunity possessing unique characteristics for every investor, in addition to the learning gained throughout the process

One thing that buyers/borrowers often don't realize is that you can also do Conventional, VA, and USDA for owner occupied property in addition to the FHA 203K product.

We are currently working on how we are going to budget for these additional replacements.

Ok so here it is:We own 2 properties with no debt on them, one is valued (according to realtor.com) at $256k and one is around $60k. 

Additionally, you are correct about the potential appreciation of a condo in this environment.