It's a very common mistake where an investor sold and bought properties and then when it's tax time they find out they didn't do the right process to actually qualify as a 1031 exchange.  

Also I can qualify for FHA this way.

You also would need to properly account for all of this.You would want to discuss your specific situation with a qualified CPA to determine if this can be done and if it really benefits you any.

@Julio Solano Definitely look for a qualified agent and property manager down there. 

Yes like others have stated, You can do an 80% Cash out on a DSCR loan, however the rate will be significantly high due to LLPAs, making it very difficult to qualify.

I have a hard time qualifying due to lack of 'earned' income anyway. 

While I’m no fan of realtors, and think they are often overpaid and under qualified, the idea about not being tied down is one of the dumbest compliant’s, in literally every other line of work, you get tied down, go hire a lawyer, you pay them by the hours, go hire a doctor you pay them by the hour, and you are not being tied technically, you could agree to pay two agents out of pocket, but of course no one does this for the same reason no one pays two lawyers.  

A 2-4 unit is going to cash flow much better after you depart, which will help you qualify for properties in the future. 

This strategy is more effective if you qualify as a real estate professional.

I would recommend speaking with a qualified custodian to ensure you set up the account correctly, which is step one.