Additionally, I'll continue to build equity in the other home with a renter.Now, I may be able to make $10,000 if I sold the home but it just seems as if building the equity would be a better option. 

When you do a 1031 exchange you carry whatever basis you have left in the building you haven’t depreciated and add it to the amount MORE the new building is worth.

When I read about it and look for information online, it seems like additional rules and paperwork but I'm not sure about true and immediate enforcement.

Additionally, you are then able to fix the problem without involving engineers and other costly expenses -- when a decent contractor could've remedied the foundation issue. 

Still, the bill still doesn’t allow landlords “to refuse to rent to a tenant solely because of prior evictions or alleged damages” or “solely because of prior convictions or arrests” without “reference to additional information provided.” ... 

The cost of the rehab is ~$250,000 with estimated ARV of $1,200,000 and the total rent at $13,000, which would generate good cash flow.I make $100k, have really good credit score and ~$100k in savings.

They're targeting credit card companies, banks, hotels, airlines, utility providers, food delivery service, restaurants, auto dealers, event ticketing companies, and last but not least, property management companies.

Insert a rollover clause for an additional year in case you need a bit more time to get financing.The lease should not mention the option, and the option should not mention the lease--if things go sideways, you'll be able to part ways with fewer complications.  

Duplex, triplex, quadplex: Another option is to purchase a multi-unit property, such as a duplex, triplex, or quadplex, and rent out the additional units. 

Additionally, If any of you RE investors are in the Atlanta area, PM me!