You never know when you might be involved in a bad car accident that might have a lawsuit that goes beyond your routine auto coverage.

@Kyle Schlosser strictly multifamily value add at this point. 

Or is the 70% target strictly the fix up, purchase price, holding costs, etc. not including commissions and closing costs when you go to sell? 

I'd like to discuss three topics found routinely as issues in reports from home inspector’s, I have been asked to review and or repair.

This indicates you don’t have nor practicing strict investing criteria.

I have not done this in Chicago, and it's likely that rules are more strict there than they are in my area.

If you have to pay for their pet issues you’ll have to raise rent or adopt a strict no pet policy.

I know about loss limitations on self-rental, and I know the intent is that the new property is supposed to be an investment property, but I don't know if the self-rental is strictly forbidden and would void the 1031 exchange.

I wanted to move some IRA funds from strictly financial markets/Wall St type investments to "NOT Wall St", and I was already comfortable investing in real estate outside my IRA, so it was a logical step.  

@Ryan Brady It could be a lot of things, so it's tough to say exactly what it is, but it could just be a poor tenant-acquisition strategy, very strict standards for who they'll rent too, poor property management company, bad advertising of vacancy/availability, etc.Robert Leonard