Here is south Florida the market is so competitive prices are going up so fast with low inventory.

Bad news travels fast. 

I see so many investors go out of business due to growing to fast.

Of course, nobody wants to be the test case, but I've never heard of IRS treating money from a loan as income, ever.I think you would be better off with a long closing date on the purchase and sell your exchange property fast so you can do a conventional 1031, receive conventional financing with one set of start up fees/costs, etc.

Fast forward to today - I met my current partner, and we purchased a townhome together and are now in the process of renting it. 

That’s not much of an upside unless you have few closing costs and flip fast, before you sink money into paying mortgage each month. 

I'm absolutely not interested in leasing fast at all and I'm extremely picky about tenants and I do things like require a large security deposit (even for section 8 renters, I have three of them and love them), don't supply appliances, take my time doing background checks and arranging multiple calls/meetings with potential tenants. 

Definitely agree with Kevin, a lot of insight in this one post, especially on staying practical and working fast to put a deal together. 

But to summarize: There's nothing complicated about evictions in Baltimore County and there's also nothing fast about evictions in Baltimore CountyAnd in the spirit of this thread, I want to be eventually be completely passive.

I would love to help out while also learning from you as we are growing fast enough to need more robust and reproducible systems.Thanks,Miguel