Speaking for myself, I could do way better just taking the cash, paying the tax and buying great deals over time, than having to jump through the 1031 hoops, figure out the difference of paying the tax vs cost to defer, you may be surprised how much the 1031 will cost if you are buying several properties. also dont know how Cali works, but the tax rate may be lower depending how long you have owned/lived in the condo, and how you file taxes for it.  

Even your income savings of $1000 may have some risk to it, but it may be tolerable (i.e. low probability you will lose it or it goes lower).

And you might explore whether, in addition to your new rental residence, you can use the employer funding for an additional residence that has rental potential in a lower tax state (e.g., Texas/Utah) if you are permitted to work remotely for a portion of your time to reduce your CA state income tax burden.

There are very unique opportunities like working with government to build and provide housing, or create a business that renovates rentals for individuals with physical disabilities... flats with wider doorways, handicap accessible bathrooms, lower counter tops, etc. 

I am soon going to be a new landlord.The two family house that I am buying needs the sheet rock from the lower unit to be gutted and new sheetrock installed.

At the price point of $600 a month, is this a lower income tenant base?

You can also find out the pay-off amount to see if it's worthwhile to just pay it off.Then, it's just an additional expense (and lower utilities for you and/or your tenants)

Lower Manhattan has seen great Commercial to Residential conversion as a result.

Scenario A (typical) - $500k duplex-$125k down-$375k mortgage at 4.6%Scenario B (modular financing) - $500k duplex-$125k down-$260k mortgage at 4.6%-$75k HELOC on primary residence-$40k loan against 401(k) (technically this would be $165k down, but you get the point)In scenario A, paying off the mortgage quickly makes zero improvement on cashflow until you pay it off completely, or refinance, and there's no point in that if your rate is locked in lower than current(or future) market rates.Scenario B could involve higher interest rates on the HELOC and the 401k loan, but you have multiple, simple, easy options for increasing your cashflow, and then you don't end up playing as much in the overpriced, volatile stock market.

Peter would depend what your current liquidity and net worth is along with your annual income from your job/business/current investments etc.Different assets are cycling at different points in time in different states.2009 was mainly coming off the bottom for the lower priced SFR assets.