Hey @Patrick Braswell  You shouldn't have any issues getting a DSCR loan as long as you have at least 1 borrower who owns 20 to 25% of the property, or if a couple of you can get to that level combined. 

A lot of the top places have seasonality issues so don't let it scare you.

As long as we would be legally allowed to proceed with this plan, then the question remains, as you point out, what is the tax burden for the partial 1031 exchange.

Separate issue is only 13% of CA homeowners pay for earthquake insurance because it's so expensive and the deductible can be really high.What are your re-building costs in your area?

CoghillWe’ve used AppFolio for many years to manage a large portfolio, and while onboarding can be thorough, it’s primarily to ensure compliance with financial and legal standards.

There's a good chance the issue(s) you face has already been discussed and answered.Ask questions in the appropriate forum.

As for the legalities of setting up an LLC to protect you and your partners, I would consult with an attorney for best judgement. 

Will having money fix that issue?

You can legally change or cancel a contract if all parties agree. 

Cleanliness may be the biggest issue with common kitchens.