If you are long distance, then you may have trouble finding dependable help. 

Or find out what realtor has sold one before and ask questions.Also, HOA fees can carry over for months depending on state, and supersede liens.Sometimes you can’t buy them in LLCs either, if that’s a concern.

So to go from $1m to $5m coverage is not too costly (depending on definition of not too costly).  

For SFRs, 5-10%, depending on the age and condition. 

@Gary Michalske, depending on the estate and long term care planning side of things the 1031 might not be out of the question yet. 

Depend on deals, number of deals, total ticket price, and amount of cash on hand, I would select the best resources available to me.

Regardless of whether it qualifies, they are likely in violation, depending on your lease language.  

Mileage is either deducted in full, or capitalized depending on when the mileage happened in relation the property being acquired/placed in service.

The market is hot enough, that you probably won't have to provide a huge discount on your portfolio.An alternative is to vacate all of the units, and try to sell them to end-users (depending where they are in the lease cycle.)

And a "smart" decision also then depends on what your goals are.