I purchased them several years prior to Covid at a very low price compared to today's market. 

I look forward to learning a lot more about real estate and discovering new opportunities. 

Regardless I think I will find growth and opportunity in Texas, weighing a small town may come with some added opportunity for growth but could have more negative effects on quality of life.

The cost of the new property covered the 1031 requirement of the value being equal or greater than the sale price of the joint property that was attributable to me (50%). - After closing as an individual buyer and completing all 1031 requirements (IMHO), I formed an LLC through my lawyer for the purpose of transferring the newly acquired property in there before I rented it out.

Do the math with a small number of units you like best and purchase whichever one makes sense financially based on price/income.

Even with only $1000 in rent I’m still over a 1 to 1 ratio (was not taking out a lot of equity) but under a 1.25 ratio.A lot of investors have the equivalent of llpa’s at 1.0x, 1.1x, and 1.25x, meaning that your rate/pricing will likely be marginally different at each threshold.

TCU area is very tough rent/price. 

A domestic partnership that sells real estate generally is not subject to FRPTA.Thanks Mitchell.Is that also a tax based on the gross sale price in case of a disposition?

Ask your agent to provide a detailed CMA that includes recent rental prices for similar properties in the area.

Asking 240k for the property, but plan to up the asking price to 250k if/when they put it on the market this summer.