This is the only thing holding me back from getting pre-qualified for another property. 

You may never collect a dime, but at least it will sit on her credit and prevent her from taking advantage of others or qualify for a loan.4.

If the money is not there by the end of the grace period a rent demand notice gets posted on the 6th.

You can collect the money in many ways, I have tenants pay using secure ACH transfers using apartments.comI would declare this income because later on you may need the documented income to qualify for loans etc.

DSCR should be in the 7's and possibly even the high 6's if it qualifies.

For example, if a sell a property for 130K, but want to buy another for 65K, can I use the remaining  65K to put towards a 2nd property and still qualify for a 1031?

What would I be able to qualify for in this situation? 

He is not trying to open a personal account; he is trying to open an account for the 401k, which is a qualified retirement plan and needs a separate account.

You usually pay an upfront option fee (around 1% to 5% of the purchase price), and a portion of your monthly rent may go toward the purchase price, helping you build equity over time.Pros: Flexibility: It’s a great way for buyers who might not qualify for a mortgage yet to secure a home while improving their credit or saving for a down payment.

I have always preferred to use an agent to rent out my BK units, as I find renters that are paying the fee are more likely to stay for longer durations, and be better qualified tenants.