Fortunately no one was hurt, but everything was lost. 

Even with this lack of consideration on the sellers part, I feel the property is in a prime location with upside potential, however, with this behavior, it will take longer for us to turn the property. 

I'm considering diverse options for reinvesting the proceeds ($200k+) from a planned 1031 exchange and am open to various strategies:Las Vegas/Reno: These markets offer potential for both cash flow and appreciation, but I'd need more information on their suitability for mid-term rentals and current market conditions.BRRR strategy: This approach could be attractive for value creation, but I'm hesitant about out-of-state management and require a turnkey or experienced team to handle renovations.Other locations: I'm open to exploring other markets offering favorable investment opportunities, particularly turnkey properties or areas with manageable maintenance requirements.My preferences:Turnkey properties: Minimize management headaches and focus on cash flow.Limited appreciation: While some appreciation is welcome, cash flow is the primary priority.Shorter-term rentals: While Airbnb isn't an option in my current area, I'm open to exploring short-term rentals in other markets.Avoidance of major renovations: My recent experience has solidified my preference for well-maintained properties.Current portfolio:3 duplexes in Missouri (mixed performance)1 single-family home in Memphis, TN (turnkey, positive experience)Questions for the community:What are your thoughts on Las Vegas and Reno as potential investment destinations?

We LOVE the idea of Pre Fab, as it’s potentially fast and predictable.

The asset has great potential and is in need of a severe makeover (mainly cosmetic)... there are duplexes in this area that have sold for the same price point with similar units.This deal is a JV with a fellow investor our firm is close with. 

And so I had it done last month (my electrician wanted me to be in town while the work was done - which was a good idea due to potential ceiling troubleshooting implications) - it went as well as it could have gone as there was enough space in the ceiling to run the duct-work/piping (whatever the proper term is) out to the north side of the property without major headaches. 

For the potential franchisee owners who are considering this as a business, I would run the other way!

I would hit up the big ones, New Western and Fair Trade seem to be the biggest that would potentially offer an internship/mentorship. 

I figure it could be a good educational tool and potential for some additional income in the form of referrals, and my own purchase commissions. 

Just not sure what to anticipate with what the value could potentially be over the next 5 to 10 years if I hold the property instead .