Multiple Lenders out there which offer this. 

And you have just laid it out there for the world to see. 

I’m just taking it one step at a time, learning as I go, and trying to set things up the right way from the start.

Did you set out to retire with real estate, did you have a goal or an amount you wanted to make?

A detailed before-and-after P&L comparison would be useful here to show accuracy and weaknesses.I have a relatively sophisticated rehab spreadsheet I’ve been enhancing for years, and I know it’s reasonably accurate.

Any other pros or cons to this method of investing for at least getting started? 

Forced Apperception (BRRRR or buying at a discount) is also a hedge against corrections.

Sounds like you're likely going to be selling.Good lesson at least. 

I am pretty sure you can not do a 1031 and use the proceeds to do anything to a primary residence.

We have a RE attorney & mortgage broker to make sure our operation is legal & compliant.