Property taxes are high and cap rates are typically between 2-4% from what I have seen so far.

It's typical.

Typically there is a 1/4" per 10' allowance for it not being level.

Midterm rentals as a whole typically pay out better than long term rentals.

What are the typical returns , ie total return, or time weighted average return, or IRR, on syndicated commercial retail real estate investments you have made in past, and what area of the US have you found the best returns in?

Also, Texas is one of the lowest paying states in the country for travel nurses so they typically don't want to pay a lot for homes or rooms when traveling anywhere in TX.

My dad's a lawyer and I believe this a pretty typical.

I want to create this rental real estate business so that the day-to-day operations can run on it's own soon.

Residential typically leases much faster and easierSo it’s an offset - if you have the option I would do commercial but only if you can sign someone up for like a five year lease.

On your first exchange, keep it as simple as possible and make sure you are upgrading either location, newer construction, more passive, or simple to operate and you will be winning!