Thanks If dad wants to take it out, it would be taxed. you can convert it to Roth but it does not make sense as you will pay taxes on the conversion. 

It's worth considering my tax position if I were to finally close late in 2025 at 40% bonus depreciation or 2026 at 20%. 

You may find it hard to collect but you can get a judgement against them which will warn other landlords.You can garnish their wages and tax refunds once you have a court judgement.

Something like "unfortunately at this time I do need to raise rent due to increased property taxes, insurance costs, etc.

Does this raise taxes?

Noticed it was abandoned, researched courthouse records, determined it was adjudicated to the Parish for non-payment of taxes, submitted purchase request to the Police Jury for amount of back taxes, made required notifications by mail and newspaper, waiting mandatory days for owner to redeem, and when redemption period expired, closing occurred at Police Jury Office.

but it sounds like you know a lot of what you DON'T want; what you do want is the opposite. if you're going to do your next project alone, it sounds like you want a LTR nearby that's relatively turnkey without any problem-tenants. you can do a 'lazy 1031' where you just sell traditionally & in the same calendar year buy the new property, while working with your cpa to figure out how to offset the tax bill. you could alternatively partner with an active investor on your next deal; that way you could invest in what could be a higher cashflow market compared to where you live, and not have to invest much time (since it sounds like you guys don't have as much time to spend on this now). 

; or-- you wait until that income from your midterm rentals show up on your tax returns as simply "rental income" for at least a year.

If you do 1031 exchange multiple times, do you pay taxes on the profit of only the last sold property or do you have to pay taxes on the total potential profits of all properties.

Low property taxes, landlord, friendly and restricted building.