Again I would still defer to a loan advisor on this because they deal this these guidelines more frequently. 

If it's an older home with lots of deferred maintenance, there will be work and expenses.

Also remember the property probably has some deferred maintenance required.

But once inspections were complete I was able to renegotiate because of the deferred maintenance conditions that were discovered.

@Lisa MaturoI think your first course of action is to determine what the tax would be on the sale of the property.Considering you used it as a rental property and took depreciation, calculating the gain/tax is more than just taking the fair market value less what you spent on the property.Factor in federal and state taxes into this calculation.You then want to see if there is a tax due and if there are ways to defer it. 

You need to understand the local demographics, tenant mix in the property, lease structures and terms, deferred maintenance, real estate taxes, and lots of other stuff.

As far as major issues- honestly nothing was insurmountable - the biggest issues that I've come across has mostly been deferred maintenance from previous owners and having to put more money than I originally planned in at the start, but honestly I'm seeing that money in area appreciation and with the excellent cash flow (For example I paid about 65k for my duplex and now I'm getting 1200 a month for it)We had some wood rot which was a little expensive to fix, but it was fine.

and preclude you from deferring any such gain via 1031 exchange.

I put my loans into deferment for a year and during that time bought my first 2-unit multi family (lived in one, rented the other).I have made a little bit higher than minimum payments on my student loans for 12 years now, and did take a chunk of cash I came into to pay off one of the loans entirely.

@Josh Coup Even if your agent isn't the ultimate authority, they might defer to their broker who would hopefully be able to provide a relatively accurate ARV.