Business loans typically won't let you purchase a property if you read the fine print.

My plan is to mainly focus on cash flowing properties that make the 2% rule. 

A 1031 exchange is for selling an investment property then buying another investment property. 

Have your agent start to look for properties that will do the 1031 now.

Property has been owned for about 3 years now.  

Explore Potential Funding OptionsPrivate Money Lenders (PMLs): Reach out to private individuals looking to invest in real estate.

There is a lot of information on BP regarding being a private lender and outside groups taht have a lot of support in this space.

If finding a new replacement is more difficult then get your new property under contract first even before your old property closes.  

Quote from @Casey Wilson: Hi there, I was wondering if any Detroit-metro experts from the PB community could offer advice on what areas in the Detroit-metro area might be worth exploring for rental properties (ranging from single family homes to 5+ unit apartment complexes).

Private money may be better.