@John Thedford is correct on two items, one is that @Dave Foster is the local 1031 expert and he has earned that respect as I have had the pleasure of meeting him in person with our wives and he is simply a basket full of knowledge.Having said that, the second thing that @John Thedford is correct on is the interpretation of like kind exchange, it is really very broad when deal with real property. 

I don't think Garn St Germain says that, and it sounds like someone's optimistic interpretation.  

I don't yet have any legitimate experience in real estate investing, but my professional training has allowed me to become comfortable interpreting, researching for, and drafting contracts and other legal instruments.

It doesn't matter what your interpretation of the purpose of the arms length affidavit is.  

Am I interpreting the guidelines correctly?

Definitely leaves some room for interpretation! 

"Legion" is a movie that just came out that rewrites Revelation as God sending angels to earth to destroy humanity - outright against every interpretation of Christianity and even Judaism.

(whether the author has researched the disclosure laws and knows for a fact this is true or whether it's just common sense is unknown) I could see defense lawyers continuing to have a real field day with this because so much is based literally on subjective interpretation and intent or lack thereof - both of which ALWAYS become the exclusive province of all white collar cases involving fraud.

g=f1368e53-ee63-4c69-beec-f7efa6e44297Basically if you set things up right you can increase your MID beyond the $1 M it is currently capped at... or at least that's my interpretation.

That is how I am interpreting your post.I don't think wholesaling is the way to raise money to make the repairs.