I know I want to do this but am suffering from a bit of analysis paralysis trying to figure out if I should jump right in and do small multi-family project or just do a small deal to get my feet wet where if I mess up it wont derail the whole endeavor.

The first thing to know is that the 1031 Exchange Qualified Intermediary industry has no licensing or regulatory body. 

Here are some great resources for you to check out: The Book on Estimating Rehab Costs https://www.biggerpockets.com/forums/12/topics/862964-wholes...Wholesaling Calculatorhttps://www.biggerpockets.com/blog/rookie-241?

If I had grasped this concept five years ago, my achievements today would be even greater. 

Yes, we pretty much plumbed the whole house.

May need a little rate buy down but in the long run it is much better to raise your rate 1% to 1.5% versus taking a Heoc rate above 8%.The whole point of taking cash out is its quick and you avoid having the associated risks that come with a Heloc.

Expect rates to be higher than "typical" financing programs - right now, I'd plan for at least 8%+ depending on the whole scenario. 

I have found enough business and made enough money not to need to expand outside of this market.Section 8 is a whole different ball game but I find the program is unique in that it's a 3-party relationship adding the variable of a government agency.

The document you linked to is for NY State as a whole so that applies to Erie and Niagara counties.

Very little or a whole hell of a lot .