While I agree the rent by the room strategy can be great if you know how to manage it well, from a lending perspective, a lot of 30 year DSCR note buyers won't allow properties with individual room leases, so it could make refinancing more challenging. 

Here is a link to the Las Vegas short-term rental page: https://tinyurl.com/2fcsjj32Whether you can offer a short-term rental out of a condo or apartment depends on the individual property.

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.

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

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. 

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

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

 This individual might have a furnace problem?

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

Since non-permitted work could impact insurance or liability, I’d consult local authorities, hire professionals, and confirm zoning compliance to ensure a smooth process.Good luck!