You will get way better loan terms than you would on a Cash out Refi as a partnership entity with no RE experience.This is all very theoretical, can you share the actual numbers so we can help you more?

The particulars of a project, whether fix & flip (cash now), fix & hold (cash flow), rehab & reboot (cash out), is only one of many ways lenders decide whether to invest or not.

Can anyone give me advice on how to go about it if it's worth it?

You have to buy more with your 1031 than your portion is worth.

Being a Realtor and GC, having developed tens of millions of dollars worth of properties in Redding, I KNOW this market, the areas, etc.

I assume you would have to pay cash, because you have to spend all cash received to avoid taxes.

"Cash flow," he says, "with no phone calls from tenants!"

You can still achieve it, but finding deals that actually pencil out on all criteria (low enough purchase price, low enough renovation cost, cash flows on the backend, all cash out at refinance) is pretty hard.

Are there going to be banks involved, creative seller financing or all cash? 

There's a monthly cash flow 101 game in Bloomington through MN REIA.