The home had a lot of deferred maintenance and was dated.

Be present for the inspection and ask questions if you don't understand something.

@Nick Gerli the Austin MSA has an extremely low housing inventory at present so increased permits would be a relief for many buyers who are competing for available inventory.  

Good Afternoon everyone, I am currently a licensed real estate agent in Florida and a couple of opportunities are presenting themselves to me.

They often state that they are not 1031 friendly.You could move into passive-income DSTs if you are an accredited investor, but it's difficult to find anything that expects to cash flow over 6%, and the risk of a passive investment needs to be weighed against the equity appreciation upside potential and current cash flow.I would do a couple of things: Prioritize the following goals in order (defer your tax liability, preserve current equity, preserve current income, equity appreciation, income growth). 

Unless this property has a lot size below 1,500 sq. ft. and has significant deferred maintenance, I don't think you'll have a tough time finding comps to justify an appraised value of $700K.Also, the closing costs should be ~5% of the loan amount, not purchase price.

Having that cash will be important if other opportunities present themselves.If its an overpriced deal and you are going with a low down payment, then it may not be worth it.

However, I will have moved out of state and be investing at a distance which I know presents new challenges.

Lenders are giving anywhere from 6 months to 18 months of full deferment.

How do you guys come up with your lease to present to tenants?