Chattanooga is rapidly changing, and a lot of out of state investors are facilitating that.

Get a RE Lawyer to help you facilitate the deal.Whatever you do DON'T list this property on the MLS for $200K and hope to get any offer. 

Does the transaction have to be facilitated by a third party?

https://www.sec.gov/edgar/searchedgar/companysearc...Crowdstreet and sites like those I believe run both sides of the coin, they facilitate syndication for sponsors and some do their own syndications as well I believe.  

I believe the summary of this comes down to one's risk tolerance level and desire for growth.Generally a larger equity position (less leverage) involves less risk in a 'high stress' situation where unforeseen events take place (either say a market correction/downswing, or large negative cash hits etc)Certainly a greater use of leverage can facilitate continued growth/acquisitions etc.

I've been advised to hire a zoning attorney to help facilitate it.

We wanted something that could facilitate my wife quitting her job.

It’s difficult searching being remote in another country4) Would you all discourage a BRRRR strategy since I probably won’t be around to facilitate the rehab?

And the QI (qualified Intermediary) is the extra component whose sole job is to facilitate the 1031 exchange for you.In order to completely defer all tax in a 1031 exchange you must purchase at least as much as you sell and you must use all of the proceeds in the next purchase or purchases. 

They facilitate cooperation with the local government on permitting issues, organize pro-builder political action, keep a database of local subcontractors and host a bidding platform, and they put on the annual Tour of Homes which could be a good way to showcase your work when you get settled in here.