Stock market (index funds) return an average 7.5% adjusted for inflation so I believe if you're doing REI, at least shoot for something higher than the market. 

I'm not interested in moving there - it would need to remain a vacation home.

That way you aren't inflating your expenses right now, but leveraging your equity. 

Hi all - I live in LA, but I have a condo in Seattle that I've been renting for a number of years (I have good equity in it but the rent only covers the remaining mortgage, HOA and property management) I'm thinking of performing a 1031 in order to purchase property in Austin, TX, where I have interest in moving in a few years.

Whether AirBnB will delay its IPO remains to be seen.

Most require a down payment at time of winning bid, and then a predetermined set amount of time to pay the remaining balance. 

Be very careful about who you allow in your space, and how long you allow them to remain.

You could always try flipping one at a time while holding the remaining units as you originally intended.

“If you own a 3 bedroom single-family home, live in one room, and rent out the remaining two, you occupy 33% and rent out 67% of the property (this is assuming all other rooms, such as bathrooms, kitchens, living rooms, etc., are all shared equally).”

If there are funds remaining in escrow, you will also likely received a letter of direction to pay your legal fees from those funds.If something arises during diligence which cannot be resolved and the deal falls apart, you still may have incurred some cost from your attorney's efforts.