Most are going to want to lend on the rehab as it ensures the rehab to be completed,There are numerous ways to pencil it out in your favor though.It benefits to work with an experienced broker who can guide you through the process and put you into the best possible product and solution out there for you.

Working with a mortgage broker who specializes in investor programs can be helpful for better terms as conventional loan product lenders generally don't have the best DSCR terms.More info on DSCR loans: DSCR loans won't use your income to underwrite the loan.DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

Defense contractors gobbling up hundreds of billions of dollars in federal contracts while making civilian aircraft that falls off the skies, because they want to cut corners and squeeze every penny they can out of production?

I have done business with Dominion for their 30 year DSCR product. 

This purchase will be up ~1m over purchase price after this rehab is done (3 sources: 1) purchase below value (or value add from addressing the rent issues - depends on your perspective) 2) value add from 4 class b+ unit rehabs 3) natural appreciation).  

I'm a 20x AirBnb superhost who realized I have more productive uses of my time than hosting directly.

Which is also one of the 3 fundamental needs of a business most often (customers, product/service, place of operation). 

The nature of the relationship to me seemed exploitative and it bothered me a great deal. 

Local product is cheap since no import tariff.  

Here is the how I would explain it to a kindergartner:The true power of a 1031 exchange is the ability for an investor to meet their investment objectives without losing equity to taxation.With more money they can buy larger, multiple, or more productive properties.What is the alternative?