Ask these people who are encouraging you to "self-study" for free. 

We chose to limit our liability, especially coming out of the pandemic situation by rebuying a rental closer to where we'd be in a market more favorable to landlords, so we bought in the Phoenix area.

Making matters more complicated, these Sec. 1031 tax basis calculations are needed before a cost segregation study can be recommended.

Study the market.

The same type of property usage needs to be maintained to qualify for the 1031 exchange.Also, be aware of the time limits involved in a 1031 exchange.

Keri - you may also want to check into Fidelity - they have great bank account options - both business and personal - with $0 min, $0 fees including no wire transfer fee and no limit on the amount of money you can transfer. 

Non-owner occupancy and business use affidavit are also important as usury limits in California are 10%.

then the investors like myself are limited partner?

Provided your Sub2 purchase closing is done complete with all the necessary paperwork (e.g. limited power-of-attorney between the sellers and you), refinancing should be no different than a normal refinance.Sub2 can be heaven or hell, depending on the quality of your closing paperwork.

I have been voraciously studying and planning and implementing for the past four months and have just completed my first wholesale deal (closes a week from today).