A 1031 lets you defer capital gains tax by reinvesting proceeds from your sale into another property of equal or greater value.However, most people don't under is that basis carries over, so don't expect to depreciate the total new purchase priceThis post does not create a CPA-client relationship.

If the market dropped, which no doubt it will again at some point, my rental income wouldn't drop with it by an equal amount. 

I was advised to look at Binghamton, specifically close to the SUNY Binghamton campus, which would most likely equal renting to college students, or the UHS Wilson Medical Center for medical students and/or medical professional tenants. 

And not all real estate is equal as an asset just like gold vs silver is not equal.

LLC does not equal tax benefits.

A reliable DSCR broker should be able to help you find equally if not more competitive terms on full recourse/ non LLC programs as well.

I know the normal pros and cons of mixing assets in an LLC and If all else equal, it would be a no brainer to create a new one.  

However at the moment we’re currently based abroad, so we’re looking to connect with experienced, hands-on investors or operators in the U.S. who are actively involved in sourcing, rehabbing, and managing projects on the ground.Our goal for the next few years is to:Partner on a few deals to learn the full process from acquisition to resale.Contribute capital and add value wherever possible.Build long-term relationships with trustworthy, experienced partners before scaling our own operation.We’re serious about learning, transparent in our approach, and ready to collaborate with people who are equally professional and results-driven.If you’re open to discussing potential partnerships or mentorship arrangements, I’d love to connect.— Edon

But I am getting the impression you are using a home made lease (could be from an attorney, equally bad).

Find a mentor and love what you do trying to find a Good Deal.A good deal is find a property that the Rent + Insurance + Taxes equals 1% of the purchase price.