We are already including a CAPEX budget as part of our investment b/c our goal is to strategically rehab units and increase rents over a 1-2 year period, however what types of deferred maintenance are sellers usually willing to accept?

I have also found that the OKC rental market is robust and active. 

My question is why do developers strategically choose specific areas to develop?

@jamie Supulveda with Strategic Property Management.

@Justin Campbell, As your strategizing it will be important to remember that the 1031 exchange is not just for "trading up". 

Your ability to not have to carry forward a low basis is huge for future strategic moves.Don't forget that it is possible to combine sec 121 and 1031 so that all tax including the depreciation taken can be either tax free or deferred.

Also it can be the most robust depending on the accuracy/certainty of your projections.But, in reality, the comparable (sales) approach is also used (in conjunction with the income approach).

Just looking for that good strategic partner to grow with us the refi portion of the equation is such a key factor. 

You should definitely be strategizing with a mortgage broker in advance of your potential refi.

We call that a diversification exchange and it lets you maximize leverage (affecting equity) while still deferring tax.So the whole takeaway from my grumpy Gus diatribe here is that while the 1031 statute is a little complicated and very rigid there is so much room for you to act strategically that you shouldn't write off the tool because of bad advice from a bad QI.Sorry