I'd even be willing to make a small wager that honestly reported he is making maybe 2- 3%/ year on that property as an actual return if he hasn't kept up with rent increases. 

They pay you consideration for agreeing to give them the option to buy.

Voter-approved bonds can increase the 1% base rate, such as bonds providing funding for schools, parks, or other community services.

Shared tenant monument signs generally they do not have rental increases so the cash flow stream counted in the NOI diminishes year over year in value.

I'm not going to directly answer your questions, but I do think there are some considerations going into a house-hack that you have to think about-https://www.biggerpockets.com/renewsblog/considera...The main one for you--do you know you definitely want to live in that property that far down the road?

@Joseph Lee from everything I have seen Central AC does not increase rent, but from my experience, I do see it as important to pull the cream of the crop tenants, and I think it will add to your value vs your competition when we see a market shift. 

If you don't like long distance land lording then that kiboshes that.A refi if you reinvest the proceeds can greatly increase your cash on cash ROI. 

This causes my note to increase a few hundred dollars a month but will not have to put money down for closing and instead leave with cash in hand.

Generally, shipping containers are used as a way to expand an existing self storage facility with minimal capital outlay (the containers can be leased) and as a way to increase revenue without improving the property that would generate an increase in property taxes. 

We are now talking to the mortgage lender (the same lender for the three replacement properties) about securing a significant line of credit using the apartments as collateral so we can do some other short terms deals with "cash purchases" then refi, etc.Are there any considerations or gotchas/ endangerment with this idea the regarding the original 1031 exchange?