And like @Kyle Keller said, they have to have a Qualified Intermediary in place prior to their sale or the 1031 isn't possible.As far as replacement options, NNN lease properties are perfectly fine as replacements for a 1031. 

The 1031 works just fine with each of these types.As far as sector goes both DSTs and NNNs will be available in all the types of investments you mentioned, medical, multifamily, retail, supply chain logistics, self storage etc. 

My suggestion for a down payment is so they would get some funds when we close, but I can't give them 80% of $148k and I don't understand where that money is coming from in your example.

As far as I know 4 units and less is business as usual.

I will run numbers again.But anyways, I will look up capex bec i dont know what that is. So

Any other big things I’m missing as far as trying to understand this property?

As far as criminal records I usually exclude felony applicants I know a lot of people have turned their life around but typically their are so many applicants that I can find a better option.

I want to buy a property in Georgetown to occupy but I believe there are better cash-flowing markets in the area, as far as appreciation though, Georgetown is probably up there with one of the better markets in Texas.

Is an LLC corporation the best way to register as far as taxes go too?

This is so exciting.