Update - talked to our escrow officer - terms will be written into the escrow instructions - she's handling it all. 

I'm glad to hear your preference is vacation rental because I've only ever heard of people handling long-term rentals.

Would each time I get a distribution of profit need to be handled as a separate 1031 exchange, or can I have the 1031 intermediary "hold on" to the capital until all profits have been distributed?

You should be able to verify this by calling the Ohio department that handles licensing or any real estate brokerage.

Of course I've found several companies through Google searches, but two problems: 1) most of them seem to be focused on bank REO's and are probably not set up to handle smaller accounts like me, and 2) it would be easy for them to take me to the cleaners since the whole idea is for me to be as hands-off as possible.

On average, he will not be spending $800/month on repairs, especially if he handles some of the capex upfront.

I know that the property must be listed on the open market and I want to avoid any ethical issues associated - any thoughts on the best way to handle purchasing this property at a lower price?

My plan is to offer to buy the property for the amount of tax owed on the property ($2200).My question has to do with the correct way of handling this transaction when it comes to deeds.

@Dan FallaWhen you have to evict a tenant, who is also an optionee, how do you handle claims of equitable interest in the property?  

I am just curious when the lease is up how do you handle follow on leases or if they ask for a month to month would you allow this?