I’m not someone who jumps in without having a concrete game plan (possibly even to a fault) so that’s the step I’m currently working on, but my goal is to be ready to pull the trigger by January 1 at latest.

This is one of those situations that is not as simple as applying for a building permit and pulling the trigger on the work.

BiggerPockets has already done the work for you and created a Landlord Package that is in compliance with your state laws.

In terms of the legality of his behaviour...The law in your state will have compliance requirements of the Home Inspectors that will address this issue; normally they are required to abide by their Code of Ethics by law.

You will still defer some of your taxable gains if they exceed the amount that you trade down by, but if you trade too far down in value you will trigger all of your taxable gain and the 1031 Exchange will not provide you with any benefit. 

Rather than wait for someone to outright say they will sue the other, what is the threshold in which I need to wait before I pull the trigger to hire representation?  

But like I said, I'm picking regions to look at pretty much randomly, and I'm worried I could spend a long time fruitlessly looking at home prices in some place or another without feeling like I know enough about an area remote from me to feel confident in pulling the trigger and buying something (or determining that there are no good investments in a place, giving up and trying again somewhere else).

You're not thinking like a business person.You're concerned enough that you're driving by the properties at various times and seeing that the property is not being used in compliance with the lease.

@Stephanie PieriThere are multiple answers on this topic already in the forum.You need to deed your property to the LLC (preferably a warranty deed).You will also have to change the name insured on the insurance to the LLC.Depending on your state and county it may trigger transfer tax and reassessment.

I lived in Seattle for a few years, but never pulled the trigger on any investments.