I've done this with my properties because I'm well known in my small town and don't want people to know what I own.LEGAL PROTECTION: By placing your assets in an LLC, you are legally separating them from your personal assets.

Well, in the Springs, I just had a situation where the permits weren't closed for the basement work and it turns out the city was about to tell the sellers to pull out everything.In Denver, if you want to do Airbnb in your basement apartment, the city has been cracking down on STR licenses if they don't see a permit for the work.

Was the property well managed, or poorly managed?

Quote from @Bob Stevens: QYes, I've heard there are some cities where Section 8 pays very well.

You have to stand out from the competition to do well since there are so many rentals there.

She's a realtor as well and we find that no one cares about your properties as much as you, so over the years we've become GC/property manager/realtor. 

@Sasha Josephs that's a question I had when I first started as well.

A lawsuit, divorce, bankruptcy, death, - all could really jam up things and cause you to not only lose your 1031 exchange but the money they are holding as well!!

If don't have full comprehension of these, then it's well beyond your knowledge point and don't try it. 

They are simply too well-funded and have too many brains working on bringing about improvement and innovation.