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.

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

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.

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

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?

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.

But vacancy rates doubled which wipes out your profit to the point of negative cash flow territory if you have a newer mortgage with a higher rate.The number of inquiries have gone up exponentially but the number of qualified renters have gone down exponentially.

Side note, I'm pretty sure you can search the forums and see wholesaling mistakes, costs, etc.How do you qualify that coach?

If you sold a property before talking to a qualified intermediary, and are holding the cash yourself, you have already lost the opportunity to do a 1031.