If you were to do a 1031 its not something to be nervous about.  1) you have plenty of time to start looking now (before lease is up) 2) worse case you cancel the 1031 and pay the tax (if any--see above) 3) the time limits are fairly generous as long as you stay on top of it.  45 days to identify from your closing which means once you go under contract ie you know you are selling your place you start looking and then you have 45 days plus however long it takes the buyer to close typically this adds another 20 to 30 days to the period.  

They can take their check to their bank and cash it - so you then get good cash, not something iffy.And of course if you take some form of payment to hold a rental unit, you need a written agreement that stipulates that such fee is non-refundable in the event that the applicant should not enter into a lease.Here is a link to an older thread where @Chris Martin has generously posted documents he uses to deal with holding a unit; very much worth a read:https://www.biggerpockets.com/forums/52/topics/804...

Assuming a still generous 30% expense ratio, the NOI to around $55k.

My balance isn’t a result of personal riches, but a steadfast commitment to what matters most.Contrast this to my early career as a NYC investment banker.I sacrificed my entire waking life to work, nearly killing myself in the process (I fell asleep at the wheel during diligence tours in Wyoming, Puerto Rico, and Kansas…shout-out to highway rumble strips).All this in exchange for my first Wall Street bonus.

If your income is made up of bonuses, overtime, or commission income they will need to average that income over a 2 year period. 

I know for a fact that some people are taking advantage (maybe it's too strong of a word) of out-of-state investors, so the local representative would have to very trustworthy and not someone that would profit solely from my buy-in; like an hourly wage versus commission or bonus. 

Secondary bonus is rewards points. 

Originally posted by Account Closed:$500,000 signing bonus plus  2017 salry of $535,000 is well over a Million dollars. 

If self manage that's just a bonus to you.Once you include these factors the deal looks very different (Vacancy 5%, Maintenance 5%, CapEx 5%, and PM 10%).  

you can also pay bonuses monthly or whenever they sell a new home.