Essentially, sounded like a win-win, but am I missing something here? 

It does not need any work other than replacing carpet and it is being sold for $30k.

And it sounds like you're just getting started!

Other things to consider - do you need cash flow, do you need cash out of the sale (which will be taxable, but could do a partial 1031 exchange), what will you buy as replacement property on the other side, do you want to manage real estate on the other side or have totally passive real estate...If you’re considering an exchange, want to be hands off, and are an Accredited investor, you could exchange to a DST (Delaware Statutory Trust).

We have cycled through a few potential replacements but can't get the dependability and proactivity that we need. 

Sounds like a good option Eric.

@Sunil Kapoor Sounds very high.

Sounds like you have some great RE experience.

They both sound like they know what they are doing. 

@Jim K. finding a replacement renter would of course be subject to the landlord screening.