And you would have to close on the MF within 180 days of the sale of your first SF (because that is the first exchange to expire).If finding the MF is more difficult then find the right one and get it under contract also with an extended closing. 

But let's get to the point—you're interested in that free meal, right?

I know that is probably just a normal and natural part of apartment living, but there is very squeaky floorboards right above the tenants bedroom, causing her sleep to be interrupted very early in the morning when my tenants has to wake up for work. particularly bad areas.

Bonnie, I have been following the regulations on STR's and you are absolutely right.

Note: I left my corporate job over a year ago and building a startup (beyond real estate) so I believe this limits my options re mortgages, yes?  

Right now I'm self managing and renting to a family member who is getting a great deal (whole house to themselves) so I eventually need to get it up to market rent to make any decent income.  

I am just left with heat water garbage and all the incedentals How did you find this deal and how did you negotiate it?

It cannot be covered in a few posts but to help you get started top left is a tab, LEARN check that out, and BUILD YOUR TEAM, just for starters; you must know how to underwrite your properties, and local laws.You are in the right place, check out some podcasts and read some books.

If you were to rent it - right now maybe $2500/month - does that pay for your expenses + profit? 

Alternatively, if something were to arise in our life (emergency or otherwise) while this money was tied up in an investment, we're left with few good options. 2) Time is not something I have much of.