Here are some ideas for additional research in your market:- Determine your budget for purchase of a property and the corresponding location and monthly rental amount that you'd need to generate the return you are looking for. 

@Renee CossRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

Documenting every expense, transaction, and correspondence diligently is a practice that pays off in the long run.Many aspects of the home-building process are negotiable, including the builder's fee.

IRS Form 8824 ReportingTherefore, since we have a simultaneous 1031 exchange, the dates to be used on Form 8824 would be the dates corresponding to the simultaneous exchange.

So your SMS campign looks like this:3000 messages a day = 90,000 a month (not 60,000)This means that in 6 months you have sent 540,000 messagesWith a 12% response rate over 6 months, this corresponds to 64,800 responses in 6 months.This corresponds to 360 responses a day.You said that you sent 3000 messages a day. 

Pure RE companies usually operate at 1.60 debt equity leverage ratio, which corresponds to to a constant LTV of 60%.Another topic I see emerging here is the flight for yield.

Maybe correspond in writing (texting) when they call you, letting them know when to expect repairs (next week).

Here is something I read on an Exeter article "Partnerships can dispose of real property and defer the corresponding income tax liabilities by acquiring like-kind replacement property as part of a 1031 Exchange transaction provided the 1031 Exchange is completed at the partnership level." 

@Shrikant Kakani anything that cashflows right now, will come with risk.Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

With all of my properties, I would rate my relations with my tenants as an A to A+ with regard to our correspondence, courtesy and on time rent payment.I have only 1 tenant where the relationship is very poor.