If none, NY and NJ are not the best spot to "try" one as your buy-in is very high, cost is high, lag time is long, and competition is fierce.

I think 1031-exchanges are a good idea, but there are, of course, many factors that go into what may be best for you.

This is what the attorney is focusing on on, that I did not send the security deposit notice to the correct "last known address" and therefore I violated FL 83.49.The attorney will argue in court that he or his legal assistant mailed the notice of last known address change to me since there is a proof of service filed in the eviction court, but as I previously stated, I never received it and did not know about the attorney until after being served with the summons and complaint about 2 weeks ago.This attorney has found a very lucrative loophole in the Florida landlord tenant laws and sues many landlords over a technical violation.

Tenant now requests a water softener (we live in a very hard water area) due to clothes not being clean, stains, etc.

Mortgage bankers and brokers are still very active.

@Arya Chen despite limited reversal in a few select markets with oversupply, the general demand for this product type is very high, leading to lower cap rates that likely won't change much in the near term.

@Lesley Martin suggest getting the best home inspection you can!

If you want to turn the property in one year, you are going to experience very high vacancy and much higher unit turn costs.  

So many things can go wrong in a RE transaction that you don't want to risk it unless it's very small like $500.

I have a property managed by Pillario and they are one of my best PM's.