Robert suggests you could end up with $825 profit but neglects actual expenses you will eventually encounter such as vacancy (factor a minimum of 5% and more if just a single SFR), repairs (another 7%), and capital expenses (another 7% for flooring, paint, roof, furnace, etc..).  

Property has no manager and has been so badly neglected that there are directv dishes all over the front surface.

I guess you're right, reserves are important to have in case of emergency and unforeseen circumstances.

I want to emphasize that these questions will be centered around buy and hold which is why I am beginning a new topic.I read every where about the tax strategy using the 1031 exchange to defer capital gains tax, under the circumstances does it make sense to purchase & sell long term, 3 year minimum B&H investments, using this strategy.

Given the right circumstances, this will preserve your personal buying power.  

Later on you just get  a reduced sales price or tens of thousands in repairs needed to compensate for decades of neglect and rigging stuff. 

The Borrower: He knew what his likely exit was for each asset based on the personal circumstances of each borrower.3.

From what we have read so far it can be both easy and hard depending on the circumstances and the deal.  

In your case you'll want to be able to show the extenuating circumstances that are making you sell now rather than holding as was your original intent.  

But I know what I would do in the circumstances, and that is demand vacant possession as a term of the sale.