Now, putting that all into one property blocks you in it until a "liquidity" event happens, aka, sell the property later.If you know builder friends who and/or you have skills to quickly visually estimate what $$ takes to put in a distressed property, you might find the following vehicle very lucrative: I know a Broker friend of mine in San Mateo, CA who is pooling investor $$ together to finance 90 day buy-fix-flip houses in the San Fran Bay Area.

Sub S is terrible for capital gains treatment and flexibility in passive investing so very few use it to buy and hold.

I had to fix a few things, put in central air, and termite treatment.

For me I began to visualize where I wanted to go with investing.

fbclid=IwAR0Ru1j-YxjsGy3gW4MpCruSyyIR2Z-WGLwRL4eTY-LAR6Ym1WmHDxLAXQk and then this one is more a visual guide from star tribune- http://m.startribune.com/find-out-how-your-block-could-change-in-minneapolis-2040-plan/489889431/

You have laid out drastically different investment vehicles with different capital requirements, time horizons, risk (both systemic and asymmetric), returns, tax treatments, time requirements, debt availability... ectIt looks like you have a bit of shiny object syndrome. 

Inventory, or stock in trade, is specifically excluded from Section 1031 treatment.

I personally cover air filters as well just so I know when they are changed so they don't wear on my furnace, and it allows me to come into the unit every 3 months and do a visual inspection of the living space.

This would not qualify for tax-deferred exchange treatment. 

Properties acquired with the intent to rehab/fix and then sell/flip to not qualify for 1031 Exchange treatment.