Use a tiered approval process to give them control over larger expenditures while enabling quick resolution of smaller issues.2.Proactive Maintenance: Implement preventative maintenance programs to reduce costly emergency repairs and extend the lifespan of property systems.3.Monthly Reporting: Deliver detailed monthly financial statements that outline expenses, rental income, and ROI performance.By handling their funds with care and providing transparency,  trust is built with owners, ensuring they feel confident in the relationship.Making Tenants Feel HeardHappy tenants are the foundation of long-term occupancy and reduced turnover.

Again, you certainly don't have to verify it this way and to some extent that is why most invest with turnkey companies - it makes it easy and is a sort of one-stop-shop but I think your definition of doing your 'homework' may be different than my definition.

You can't go wrong anyway but you want to have some sort of boots on the ground to get you started and understanding the area.

Or like your plan use it all as a down payment on a much larger property.  4.

Having milestones (or checkpoints) is needed when having larger goals to ensure you are on track and keep you motivated.

I believe it is a larger issue than what we define as the economy, which is mostly measured in corporate profits and Wall Street performance, this is not what the average person perceives.

Here is the how I would explain it to a kindergartner:The true power of a 1031 exchange is the ability for an investor to meet their investment objectives without losing equity to taxation.With more money they can buy larger, multiple, or more productive properties.What is the alternative?

But I can sort that out other ways as well.- bonus points if I can have a separate business w/o having to pay 2x the cost, but it is what it is.- cost is an issue.

That's all the 1% rule does, is help you sort out what MIGHT be a deal with analyzing and ignoring the rest.

However, a larger home may consider another can or two in certain locations based on proximity to the kitchen or bathroom.