I did not have it "set up" per se, but I did form a relationship with a lender and had a pretty strong indication that I would be able to refi after rehabbing my cash purchase.I actually found 2 lenders, both small and local.

I'm looking in Eckington, Brookland, Capitol Hill, Lincoln Park, Anacostia and other parts of SE DC.

The address is 12030 SE Rhone st.

If you want the 401k contribution, you'll be paying SE tax. 

Welcome Ryan, I too am in SE Michigan!

Depending on the market you are in, those amounts can buy/rehab anywhere from 1 property (CA for example) to 12 properties (SE MI for example).  

This will be ordinary income an subject to SE tax typically. 1031 only qualifies on passive investment income -IE sale of a rental. 

One of the best reasons to utilize self-rentals is when you are an S/C-Corp and you need to extract profit from the Corp to either avoid SE taxes or 15% dividend taxes.

However SE or W2 tax would have to be paid and ultimately there is no more income and possibly less with SE tax or W2.

My reason for asking is that California is a market, while I live in and own in, I don't think I can afford to invest at this time but want to get my feet wet per se in another market.