I met a great realtor who helped me find what I was looking for, and helped me identify a property in a great location with huge growth over the next few years.

It's OK to utilize generic percentages when conducting initial analysis, but once you identify a property that may be worth pursuing, I always feel it's best to know how large of a furnace i'll need based on the square footage, what the current state of the plumbing and electrical are, does the home have large decks or long driveways that will eventually bear large expenses that you may not incur elsewhere. 

If the house sells before i identify a property, is it then too late to do a 1031 when i do find the property I want?

I did have a lot of help during my canvassing spending my days with 2 Detroit-based ground up multifamily developers and a realtor that helped me identify pockets of opportunity.

Got it - yes Indianapolis works - but you need to identify exactly what your goals are on the front end.

But there's other initial time expenditures such as getting the listing up and running, etc.After that, you'll have a little bit of a learning curve while you figure out the most efficient ways to communicate with the guests, but once you hit a pattern with that, there are tools you can begin using to automate the repetitive parts (and after awhile, a lot of it gets repetitive!).  

Jerry - I looked into tenancy by the entirety (had never heard of it before) and found this: In 1890, the Minnesota Supreme Court identified that the tenancy by the entirety form of real property title ownership had been abolished in Minnesota,... so i'm guessing it's not even an option?

I identified the area as a very desirable.

To benefit from accelerated depreciation (beyond the 27.5 straight-line) you need to perform a cost segregation study on the property to identify assets with a appreciable life of 20 years or less. 

We teamed up with a non-profit who will identify the family and work with them for 3 years to ensure they are ready to receive the deed 100% free and clear.