My son was recently working on a 6 story building in Seattle area being built largely with components from a European company.

Basically it lets you walk through a prospective property with a property expert.The value proposition is to help you get advice from knowledgeable real estate professionals whose interest is actually aligned with yours (they don't make more money when you pay more on a property).

Make sure you pick the right company that has a successful business model and someone that has a business model that is aligned yours...It is very important that you make sure you take the time to interview and have candid conversations with a PM company.

Always make sure you guys are in alignment and that you share the same morals that way you can ensure you are collectively heading down the right path and doing it with people you know will truly look out for your best interest.

I know, and more importantly, some of the very best real estate attorneys in my state define a process that is 100% aligned with the law.

You correctly identified the critical component for 1031 - placement on your return and Sched E.Since there's no statutory holding period it's all going to come down to your intent as to whether a property qualifies for 1031. 

Put it in a high yield savings account earning around 2% interest with zero risk while you learn everything you can.Then use your $100k once you've educated yourself and picked out a strategy that aligns with your interests/goals.Also make sure you are very cautious of people reaching out to you with "deals" and "opportunities" now that you announced having $100k cash on a public forum as there will be people who would love to spend (not invest) it.

Stick with the world gold standard in a Cook Islands Asset Protection Trust or the hybrid Domestic Component Bridge Trust if you don't have a reason to go purely offshore by using a connecting "migration" clause. 

:>) Lee, giving back is a crucial component of success my friend.

Like you, I'm wondering what components can be left as-is, and what will need to be up to 2019 code standards.