Here are a couple of ways you could structure the deal:Lease Option with Seller Financing: You could lease the property with an option to buy later, allowing you to rehab it while giving the sellers time to find a 1031 replacement property.Seller Financing with Deferred Payment: Structure the seller financing with no immediate payments, allowing you to refinance once the property is appraised, and the sellers can complete the 1031 exchange when ready.Escrow Holdback: Transfer the deed into an escrow account, giving you control without immediate transfer, so the sellers can take their time with the 1031.Third-Party Facilitation: Use a qualified intermediary to hold funds and facilitate the 1031 exchange while you refinance.These options allow flexibility for both you and the sellers.

Leasing is a specialized skill—PMs deal with this daily, making them far better equipped to handle applications, verify income, conduct background checks, and evaluate a tenant’s overall suitability.Protecting Your Investment:The cost of a bad tenant can be far greater than the cost of hiring a professional.

@Tamika Davis One of the biggest advantages of most software on the market is to complete these tasks you mention (maintenance, leases, rent collection, etc). 

With your background in lease management and site selection, that could be a natural next step.Regarding STRs, I can understand the hesitation—accurate expense tracking is critical, and not having that data can make evaluating deals frustrating.

Hey @Guan Hong Guo - yes combined income *assuming* all adults are on the lease (as they should be if they're residing in your property).

I grew up in Canada and still have family there and will be in the area frequently this year 2025. 

The DSCR program "Must use the lesser of the two either common rent from the appraiser 1007 rent schedule form on the appraisal or the lease".You also have to factor in the taxes and insurance because a guesstimate or ball park can kill the approval. 

January rent has not been paid to the property owner, as I am sure the lease spells out, but to someone else.

Purchase price: $108,000Down Payment: $25,000Interest rate 11%Balloon: 36 monthsPrepayment Penalty: NoneProperty is in Mission TX it is 5 units, currently 4 of them are leased for a total of $1,550/month

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.