Specifically, they will be looking for capital for a down payment and operating expenses and reserves, capability to obtain financing in an amount sufficient to close the deal.  

Comparable properties range between $260K - $280K.Why I want to buy:Save on rent as the mortgage will be cheaperFix the house and flip it while living in, holding it for 1-2 years for appreciationI would like to offer a low price on the property (reduce 25K+ off retail) since I plan to buy it as is, and upgrade everything in it since everything is from original 1990's construction. 

For higher end finishing we've been in the $200-$250 per SF range on previous historic restoration projects when keeping the original structure & character of the property.

Lenders in this space tend to create their own form docs in order to sufficiently protect themselves.Title company has a certain set of docs, this usually pertains only to the Title Policy on the property. 

Would the properties need to be free and clear in order for the 1031 to execute or is simply owning, say, 10 turnkeys at $100k each sufficient enough to 1031 then purchase a larger MFH.

Did you have access to sufficient funds to complete the deal? 

The rents are in the lower range from $275-550.  6 of the units are vacant.  

Mine range between $600 and $900 a year.

Comes down to what you qualify on the purchase side.Some communities that could work in your range are Bristol and Levittown.

@Christine Kankowski, I know CA taxes are in range of 1% of purchase prices , in Texas it does not matter property is new or old... there is always around 2% tax of appraised value.