(And I think you get some added tax benefits for keeping it in your name whIle you live there as well.)Looks decent, especially in the current market - pull the trigger if it's where you want to live.

My wife and I looked into this business model 3-4 yrs ago and decided its a failed model today in many metro areas where parks lock out investors

After doing quite a bit of research, and finally deciding to jump in the real estate game, I have pulled the trigger and purchased two separate Duplex's in my home town area of Southern Georgia (I currently work and reside in North Carolina). 

Once you know that you have a couple who will lend to you as long as you have a deal they will approve you just have to find something and pull the trigger.

Or maybe see who wants to sign the longest termed lease to lock in the funds longer?

It's a revolving door,, If you choose to do this rent by the room, you will need to put a room number on each private room so if you ever have to file a eviction the room is designated,, I would suggest the electronic key pad type lock for main entry and one for each private room so easy to change codes.

pop a lock - cant post phone #'s on forum but you can google it

The amount that you trade down by would be applied toward your taxable gains and in this case would like trigger all of your taxable gain so the 1031 Exchange would not provide any benefit to you.

Uneducated - Passive investor:  This is the BP'er who reads others posts although never posts himself  He is completely casual in his perusal of real estate articles and will likely never pull the trigger on actually making an offer or investing in Real Estate. 

If a property meets your criteria, then pull the trigger.