Most guests with ample notice will be somewhat flexible, however you should have a contingency plan in place for when you have a guest that is not. 

If my 1031 gets cancelled due to me not being able to attain financing then there must be damages to me financially?

With over $150 billion idling in real estate private equity funds, there's ample liquidity to acquire distressed assets and loans.

My goal is also to live in the residence for a year but that goal does not seem too attainable through the naca program.

If you have ample street parking and aren't in an area where the cars will get destroyed by hail, etc. than it is less of an issue.

However, you might be able to find a PM company that would pay you the above-mentioned price for the 10 contracts.Once the company attains 100 (give or take) doors under management, the business itself may have attained a market value of roughly 2-3x seller's discretionary earnings.

He has a great understanding of my model and is eager to help me attain my goals and to look at even a bigger picture...

While I think that is true, it is much more difficult to simply attain this strategy with 7.5% interest rates.

Unfortunately what you're looking is no longer attainable in todays market unless you find an extremely rare deal.

@Aakshay Subramaniam, first, good luck and hope you attain your goals!