I would live there for a year, and then if I need to change cities I could remotely manage the property.My reason for going with a condo is that the maintenance work goes through the complex, making it easier to manage from another city.So my questions are:1)Is this sound logic, and a reasonable plan for success?

Also, get the daughter on the lease and have some maintenance done to the siding.

Also, take into consideration utilities you will have to pay and routine maintenance costs too.

The most time-consuming part of managing a rental (w/ current maintenance) will be leasing a vacant unit showing the place, BR checks, paperwork, and even that is short lived. 

You need to ask your self if your ok with a more high maintenance investment.

As well as schedule contractors to work on repairs and maintenance issues.

Lake Merritt Condo:Pros: less maintenance than a SFM.

Routine selling expenses such as broker's commissions, title insurance costs, escrow fees, recording fees, exchange fees, and the like are permissible 1031 Exchange costs and can be paid out of the 1031 Exchange proceeds. 

My wife and I have been using the BP method of calculating operating costs for rentals in Houston but we were starting think that just using say 8% for maintenance, 8% for vacancy, etc is fine for a place that only commands $1000/mo in rent but really penalizes a place that commands $3000/mo in rent making it impossible to find a good deal.

From General maintenance, tractor work, bookkeeping and business software tailored to our needs.I have recently taken a more hands on approach with the office complex as the former manager was not doing a great job.