I was exploring the opportunity to capture equity from a property I purchased a few years prior (1031) while increasing cash flow to our portfolio.

We had both sides of the transaction lined up prior so it went smoothly.  

Depending on how good the GP's prior returns have been & marketing strategy, they can raise 70-95% of the total equity required to take down their next deal. 

I would also order a foundation inspection or sinkhole report prior to purchasing, if you don’t that fight with the insurance company is a "No Win" situation!

If they have documented harassment or threats of violence, then you should instruct them to report it to the police and consider removing the offender. 

Yeah well, we are getting stronger and stronger hurricanes coming through and if I don't sell prior to house getting destroyed, would only get rebuilding costs from insurance.  

For instance, let's say I remodel the home completely, have a completely different look inside of it than it had prior, as opposed to the smallest possible remodel.

I can't find any information on occupancy requirements prior to sale for an owner-builder in this state, though it's well-documented in some other states like Texas so I'd be surprised if no guidelines exist. 

So you likely need to involve either a consultant or developer prior to make sure you don't buy something that doesn't have a fatal flaw or constraints that make the project not pencil out financially. 

Present an Offer to Lease with your terms and conditions for the applicant to become a tenant (sign lease, pay move-in monies) by a date certain prior to 8/1.