I'm a big fan of Whiting, I have some concerns about legacy pollution/soil remediation there, but great location and the prices help make up for the industrial issues.

It being a STR has no bearing on its worth.

But, in all likelihood, this will not be reported in your credit history and should have minimal bearing on how much you can finance in the future (not including the effect of paying the existing note to the lender).

However, I don't know if these rules have any bearing on eligibility to do a1031 exchange.Any help is greatly appreciated! 

Ladders or steps required by this section shall not be required to comply with Sections R311.7 and R311.8, Ladders or rungs shall have an inside width of not less than 12 inches (305 mm), shall project not less than 3 inches (76 mm) from the wall and shall be spaced not more than 18 inches (457 mm) on center vertically for the full height of the window well.R310.2.3.2 Drainage.Window wells shall be designed for proper drainage by connecting to the building’s foundation drainage system required by Section R405.1 or by an approved alternative method.Exception: A drainage system for window wells is not required where the foundation is on well-drained soil or sand-gravel mixture soils in accordance with the United Soil Classification System, Group I Soils, as detailed in Table R405.1 R310.2.4 Emergency escape and rescue openings under decks and porches.Emergency escape and rescue openings shall be permitted to be installed under decks and porches provided that the location of the deck allows the emergency escape and rescue openings to be fully opened and provides a path not less than 35 inches (914 mm) in height to a yard or court.R310.3 Emergency escape and rescue doors.Where a door is provided as the required emergency escape and rescue opening, it shall be permitted to be a side-hinged door or a slider.

@Nicholas Blaylock To answer where to keep your money, a high interest bearing savings account might be best (check out Ally... ~2%). 

Right of way setbacks, landscaping requirements, soil erosion plans, dirt permits, soil compaction, Indian survey, protected Gila monster survey or brown bats,  etc etc etc.                        

Some places require you to put them in an INTEREST bearing account and PAY your tenant that interest when you return their security deposit. 

Bulls and bears get rich, but pigs get slaughtered. 

In Connecticut, we are required to maintain tenant security deposit funds in an interest-bearing escrow account in the name of the tenant.Even if your state does not require this, I highly recommend it.