Does a 1031 exchange mean that we have to take the entire 155k and reinvest it to reap the benefits of the tax free exchange or are we only required to use the actual profits from the sale?

If you haven’t used all your VA loan benefits you could potentially use your second tier benefits on a new home and leave the first loan in place.

My answer would be no, but there are so many Owners out there who fall for it as a benefit to them. 

If you were thinking about buying a vacation rental in a more coastal neighborhood like Mission Beach or La Jolla (where the cost essentially necessitates the escalated income of an STR), I would likely advise you to wait to see where things go legislatively.However, the neighborhood you mentioned are not necessarily in that same category.

Essentially they charge for the water that was lost, but not the corresponding sewage treatment cost since they didn’t treat the leaked water as sewage.

You can sell and pull out your equity and use it to purchase investment properties.Make sure you apply to get your VA loan benefits reinstated.

You will know where to spend your money for maximum benefit.

[And, I guess the show itself makes plenty].Can you afford to not make a profit, just for the experience and community benefit?

In particular, The Essential Guide to Raising Capital should get you started.

Michael and Thomas mentioned some of the benefits/ drawbacks of inherited tenants/ some of  the things to be careful when in such a situation.One way to know what your property might rent out for is checking local rental listings on Craigslist, apartment.com and other such websites.Good luck and keep asking your questions on BP!