1031 exchange would get me new rentals and cash flow but no loan?

[Bryan Findlay]

My Credit is 765, my wifes the same /part time  nurse- I have 80K saved, DI retirement $1043 monthly for life, I own 3 homes (2 rentals and 1 primary) which is my only debt.  One rental in CA that is worth 180K more then what I paid and right now is cash flowing at 650 monthly. It needs work and upgrades and my intent was to 1031 exchange into the Idaho market. It would sell for $330K+ and I owe around 144K ish on it.  I wanted to use this to do the exchange at which point i''d like to identify 3 rentals in in ADA county for around 240K each home and evenly splitting my profits of the 180K even among the 3. THIS WOULD REQUIRE A LOAN FOR THE 3 NEW RENTALS WHICH MY LENDER SAYS HE CANT GET ME without a job despite what i have going for me.

I'd be able to put 20% down this way on each property which I know will cash flow and equity will climb. However, now my Lender who is for the most careful and NOT an aggressive person seems to just say no to me trying to make this work. 

I  I have various ACCOUNTS with money, i own vehicles, all my homes have equity and the rentals are cash flowing.  I just want this to be my full time gig and would like to be able to buy rentals and somewhere at some-point start to do flips.

Looking for ideas, ways to do this. I know people on here are smart and could hopefully help or guide me to get these rentals in Idaho.  thank.

[Dave Foster]

@Bryan Findlay, This is more of a lending situation than a 1031 situation.  I'd start talking to different lenders.  

Some other possibilities

1. The requirements of 1031 to completely defer all tax are that you purchase at least as much as your net sale and that you use all of the proceeds.  The IRS doesn't care where the remaining money comes from.  It could be loans.  Or if you have enough cash spread around places you could use that so you purchase the replacement properties in cash.  And once that is complete do a refinance.  There are lenders that might prefer that - obviously you'd want to have that in place before you commit.

2. Instead of splitting your proceeds evenly and trying to get three.  Why not go for two properties with more down payment first.  Or buy one property for little debt and one with maximum debt and then refi the lower leveraged one after the 1031 is complete.  You do not have to allocate the proceeds evenly.

3. Or split the difference and do a partial exchange so you reduce the total debt you're taking on.

The problem might be the lender.  Or it might be that your plan is a little too aggressive and needs to be broken down further.