utah is ground zero for these enterprises.

My background is IT for Federal Government enterprise systems.

You can still use an out‑of‑state PM, but don’t outsource everything; carve out defined duties she owns weekly, keep a contemporaneous time log, consolidate activities into one “enterprise,” and review with a CPA who specializes in REP to ensure your setup and logs meet the tests.

Clean exit, strong profit, onto the next deal.Where The Profit Really Came FromHere's what's important to understand about this deal.The renovations and rent increases added real value.

The bank I went with is Enterprise Bank and Trust since they have a Property Management specific division. 

Quote from @Shuff Mauldin: The “best” way to be profitable — or, really, giving yourself the best odds to show a profit — is sticking with the asset class that gives you the most outs.

Also, what do you consider to be enough profit to be worth your time or effort?

@Brett RogersI believe the selling expenses can reduce your profits, particularly on a shorter hold of two to three years.

When you sell $700k property you have to buy $700k worth of property to defer all taxes not just the amount you have in profit.  2) When you did the exchange your “tax basis” for the two properties you bought would be reduced by your profit.  

Selling them for something would still be financially better than donating them, even if you could find a non profit who would take them.