Soak it up.Is it brick and masonry built or wood frame and siding?

@Bruce Lynn, To clarify, I've been looking at Madison County, IL, particularly near Wood River, just across the river from STL. 

Leaks o ly get worse, and lead to wood rot and mold.

@Emil Pinlac from an upkeep standpoint I always prefer tile, some wood grain tiles are pretty cheap these days and they work well and can avoid some of the bubbling you get with laminate if exposed to water to much, bedroom carpet is nice and pretty cheap to replace if need be as well.

@Austin Wood That sounds like a pretty thin deal with a lot of work to put it together.

Completely remodeled, the 5,663-square-foot retreat includes a massive open floor plan, two primary suites, a reclaimed wood pavilion and pool.

Added wood floors, new interior paint, upgraded sink and shower fixtures.

They have *knock on wood* been incredible tenants for over a year and a half now and are about 6 months into a two year lease.

My goal with a 1031, and knock on wood this has happened through all of my seven 1031's I've done, is to double my pre-tax cash flow.Or, just cash out enough to put a down payment on your house and rent both sides of the existing property. 

Let's not talk about mold, lead, rotting wood or water proofing.