Sorry if you missed the implications.I'm in Detroit, the fact that you wont ever have to go to the property yourself tells me that your hoping to pass off the physical risk of life or limb to your property manager.

Physical Form".

Still solid, but the physical resources of land diminishing + population growing likely will yield better but significantly more work and risk.You're wanting to hit a grand slam on your first at base.

Aloha,Generally, security deposits are only for use to fix physical damages caused by tenant abuse or misuse once they have vacated.

What that means is if something happens to the physical home, you are screw.

This thread reaffirms the fact that, if you are considering purchasing out-of-state turnkey properties, you really need to go physically visit with the team on the ground (the turnkey operator, the PM companies, realtors), tour different neighborhoods during the day and night, visit the properties or comparable properties before/after rehab to get an idea of the quality of work done, etc. before you pull the trigger.

Your plan to get into an MFR and 1031 exchange it to what you want is interesting - but the cautions raised above regarding that are very important to consider if that still is your plan.  1031 exchanges are a nightmare of physical restrictions that the government thinks will define and regulate your 'intent' - as they see it.But you and your wife are in a very good situation as W-2 earners for this very interesting side reason:  your benefits plan!  

Price are continually driving up with low supply and high demand with how many people are both looking to move here physically or moving their money here.

So, a linking of the built/physical space of properties/planning with the social space of people with some mediation via technology. 

I found a great cloud-based brokerage that will allow me to train without physically being in the office taking leave from my military position.I think about finding a brokerage like going shoe shopping.