There is the real estate component which qualifies for 1031 treatment and there is the personal property which may only be exchanged for like personal property.If you're simply wanting to go buy new furniture out of your 1031 that's not as easy unless you close your purchase and use an lOC on the new property to purchase the personal property.

Reading about these important professional components of a deal, I can see where they are all necessary.

PLUS you will be rewarding the Tenant's loyalty by giving them a discount on their rent.When figuring options like yours, you have to balance all of the components. 

I would say no matter where you go, I personally would concentrate on cash flow as much as possible and/or properties that have a forced appreciation component. 

Sometimes pool is a detriment.

I would also do a very thorough inspection so that you know what you are buying and the life expectancy of the individual components (i.e. life of the roof, condition of plumbing, electrical, etc.).   

So the cost to replace a HWH is the same if the rents are $500/mo or $2000/mo -  so on my lower rent properties I use something like this to set my capex Item Cost Useful Life Yearly Monthly Roof $5,000 25 $200.00 $16.67 Furnace $2,500 20 $125.00 $10.42 Flooring $1,800 6 $300.00 $25.00 Plumbing $6,000 30 $200.00 $16.67 Fixtures $1,000 6 $166.67 $13.89 Water Heater $700 20 $35.00 $2.92 Appliances $1,000 8 $125.00 $10.42 Componants $1,000 10 $100.00 $8.33 Structure $10,000 30 $333.33 $27.78 Kitchen $4,500 15 $300.00 $25.00 Window $5,000 30 $166.67 $13.89 Paint $2,500 6 $416.67 $34.72

It's not detrimental.   

@Fong Lee  Another key component of your plan will be to increase your credit score. 

One of the critical components of the budget is putting away money to invest later.