Most reverse exchanges are done with cash from the client or a private loan of some sort from an individual or a portfolio bank.When your old property sells you will have that cash in your account to purchase the new property. 

The goal is to expand my network with likeminded individuals in the same market.   

I have a separate positive review of this individual on BP.We spent a great deal of time formulating a strategy.

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

Your 1031 will ultimately be only as good as the individuals directly assigned to your exchange.  

In this situation, can all the partners claim mortgage payment as expense in their individual taxes (or just the partner who owns the mortgage)?

Renting an individual room is all but guaranteed to be cheaper than them renting a 1/1 apartment alone.

@Sufyan Minhasgoing to depend on the rules in individual buildings

Ironically it's normally the individuals who go to the greatest lengths believing they are protecting themselves who are the most reckless in the way in which they operate their real estate.

Have you tried contacting the main office or different individuals in the company?