Many times we are pushed to close fast and you may not be finished searching for a contractor, you can actually change contractors any time before they start working on the project or until you exchange money for their services.

We actually sold a building this week & I was able to do a "swap & drop" 1031 exchange with my 50% of the proceeds thanks to Teresa Person at 1031exchangecorp.com

Wholesaling requires some money but you can get properties under contract and assign them to someone else in exchange for an assignment fee. 

Should we sell and do a 1031 exchange to buy a new property or raise rents to cover deficit once these renters move out or hit 5 years whichever happens sooner?

You're just performing services in exchange for a wage that may or may not happen to be 10% of the gross rent.  

You have a clear strategy in that you have educated yourself and now feel confident to take action.Good luck and best wishes with your REI activities.REI can be very daunting , however, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.

You must take risks, but, ensure that they are calculated risks.Below are some links to get you started. http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/ubghttp://www.biggerpockets.com/meetSetting up Keyword AlertsHow to Use @Mentions on BiggerPockets25 Tips for Real Estate SuccessLastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.

You must take risks, but, ensure that they are calculated risks.Below are some links to get you started.http://www.biggerpockets.com/startherehttp://www.biggerpockets.com/ubghttp://www.biggerpockets.com/meetSetting up Keyword AlertsHow to Use @Mentions on BiggerPockets25 Tips for Real Estate SuccessLastly, this site thrives on interactions and as such we encourage two way exchanges and look forward to educational and thought provoking ideas relevant to REI.

Looking forward to making new connections and exchanging great ideas!

Further down the road I might want to sell utilizing the 1031 exchange or leverage into other properties.