Any tips, tricks, or bewares about that set-up? 

Set up coffees, talk to people in line at Home Depot, meet your neighbors, go to REI meet ups, meet like minded people here.

The type will depending on your entity setup, familiarity with accounting, interest level, etc.

I have set up a meeting with my property manager to see what the intentions of my current tenants are and what rental increases she might recommend.

We did want acreage, although it's not our ideal locationAdvantages - enjoy the acreage, lock in the gains on our current home, let our income grow over the next few years and purchase a "dream" property in a more desirable location.I also believe this would increase our gains significantlyDisadvantages - maintaining acreage, cost of moving and getting a new home built or M/H setup, and having to move in a few more years.

You haven't setup the comparison right and really aren't taking into account the power of leverage.

You could setup an LLC, but its typically not necessary early on and rates are typically higher for loans closed in an entity.

They have different rules and can be at times more flexible and at times less, but my bank contacts have gotten me set up nicely on my STR homes and homes with ADUs.

@Max CordovaHave they set up the 1031 exchange with a qualified intermediary?

This deal is in the KC Missouri region - three small brick duplexes, 2 bedroom shotgun style setup with a small kitchen and backyard.