Assuming that the profit is the same, I will give more if I would be emotionally attached to the house, in other words liked it too much.

Or an accidental judgement or lien can attach to the seller, encumbering 'your' property. 

For a condo, I pay the condo fees, however, like the utilities, garbage, etc; the tenant really pays for them through their rent.you want to make sure you pay for anything that if left unpaid can be attached to the property itself rather than the person living there.

Is this a bad idea or are there better ways to keep yourself from possibly getting emotionally attached?

I completed form 8824 and have documented the adjusted basis for the three properties that I sold on a separate page ( a requirement for a multi-asset exchange) which I will attach to my return.Do I need to file a 4797 ( Sale of business property) for each of the properties that I sold since it was an exchange and not a sale?

Some people separate leasing operations from ownership operations (that could reduce the risk of tenant lawsuits attaching a judgment lien on the real estate assets). 

The tenant I believe has been in the property for atleast 3 yearsLight bulbs missing everywhereDoor pump bent and coming out of door hinge but worksDisgusting bathroom - see picturesExcessive amount of nail holes, 1/2 filled with toothpasterefrigerator not cleaned outrandom things left behind and in the yard, quoits , balls, havent looked yet but probably dog droppings.dog scratched at the door and scratched paint off of storm doordog marks on back door (see attached pictures)stains on rug (makeup i think)tenant installed porch light with out permission (see attached picture)Thoughts?

Pockets of Denver are great to have a duplex set-up, but a lot these become two paired/attached homes, and that's not the current set-up for this home which leads me to believe the part of Denver this home is in may not be the best for that big of a rehab project.

Another partnership ended up with one party having FTL's which attached to the property.

I have attached the first and last pages of the current lease.