I'm happy to help in any way possible with the skillset I have in exchange (I'm a full stack developer, so I love focusing on data!).

I'm looking to do a 1031 on a condo that recently was vacated. 

I learned from one of the gurus but I overpaid for the properties (which is what I was taught) in exchange for being able to buy them with little to no money down and doing seller financing.However, doing that proved to be not wise at all.You need to buy a property right and having cash or access to cash enables you to do that.I've since learned from that mistake.

Does property manager (me) receive any management compensation or should I expect to manage it, in exchange for the equity alone?  

. - Sell & 1031: - I think I could sell right away for at least $225k for an $80k profit (not including closing or realtor fees).

Is this fully legal to exchange work for a reduced rent amount?

Look into doing a 1031.

However, if I was a seller, I'd do that in exchange for some non-refundable money.In seller's defense, what happens if you change your mind, don't close and have two vacants (= ZERO income) now?

Should I  1) hold onto the property and take equity out to reinvest in another real estate venture (leaning towards MHP) or 2) sell the property and 1031 exchange 3) contact the investors that are building around me and see if I can partner?  

Value-add is always better for those looking to capture equity and then either refi or 1031.Turn-key is good for high income earners (or high net worth) who are just looking to park money.