If I've misread this please accept my apology, as I said earlier I'm no expert. 

I would say test it by telling people in the listing what is the size and the value of the house like a 700sqft 1 million dollar beach house. 

We offered $75k under asking and they accepted. 

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Purchased a test pilot home for shared housing. 

I would have to call someone that is extremely motivated to sell and willing to accept any offer despite what they had listed to accept the offer on the 1st call. 

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.

If you run into an agent who refuses to accept contracts, they are in violation.

I make offers but they are not accepted.  

As you speak with prospective guests, just ask them and do some QA testing.