So, if you 1031 into an asset worth $700K or more to fully defer taxes, you'll have around $240K or so to put down (there are fees and deductions so these numbers are general). 

Is it worth diving into a full bathroom/kitchen gut (unpermitted/handyman not of my choice) possibly revealing more issues or just paint, new cabinet pulls, switches/outlets, lights, etc?

Not sure what your download screen looked like but you might want to check there.  

If you have an investment centric realtor/agent out there it may be worth a call to them, then maybe they can direct you to a proper lawyer if it comes to it.

The biggest red flag is that the potential tenant isn't even good at potential fraud.Do a thorough background check to make sure they're not just giving you some nonsense or friends to pretend they're employed. 

Which I have done. it. all.To top that all off, the insurance company made me put a new roof on both structures (I think the roof had a bit of life left in it, but ok) - another $11k - and the main house needs around $6k worth of electrical that the previous owner didn't do properly ("fully remodeled" my ***).

Check out my personal favorite, Set For Life by Scott Trench , or The Total Money Makeover by Dave Ramsey.3.

Happy to share if it would be useful for someone:🔗 https://app.reinvify.com/mapFeel free to check it out and see if it helps with your real estate investment decisions. 

House hacking with a multifamily unit sounds like a smart strategy,I'd recommend starting by checking out local market conditions and connecting with other investors nearby.

., 1 year)]Security Deposit: [Enter the amount of the security deposit]Background and Credit Check: [Indicate whether applicants will undergo a background and credit check]Rental Application Fee: [Mention if there is an application fee and its amount]Don't miss out on this fantastic opportunity to make our lovely single family home your own!