Most do not close anything but create tons of paperwork for a brokerage.I am talking in generalities and not about this specific forum topic. 

Clearly not all property management is created equal. 

Overall I’m more concerned with cash flow and returns than a cap rate but I want to make sure Im creating an accurate and somewhat conservative scenario.

Similarly I see some CRE lenders throwing money around again topped by dried up inventory and too many new, overpriced A-class developments going up just to create the perfect storm all over again - this time in the CRE space.

William Davis I don’t see why you need your own down payment if you create equity.

That would not only void your opportunity to actually do a 1031, it would also create an immediate taxable event.Certainly a refinance where you pull cash out is no problem. 

Or should I try to find a pool of investors large enough to get the next property and create a new LLC each time? 

Have my monthly schedule for the rentals run from 15th to 15th (I see several advantages to this, but the fact that it would be out of sync with most landlords might create significant problems).3.

If you can afford to create a unit, how about: buy a different value-adding proposition?

The same enrolled agent also suggests that opening a 'property management' business should allow the deduction of the overhead 'cleanly', but frankly creating a Sch C business with only overhead expenses to support Sch E activities seems to be 1) a HUGE RED FLAG as there is NO INCOME to the business created, and only expenses incurred over SCH E activities only.