It sounds like two out of the three components of the 1031 exchange were in place at the closing. 

The reg cited in your original post says (c)Payments to which subsection (a) applies(1)In generalExcept as provided in subsection (d), this section shall apply to any payment on account of the sale or exchange of property which constitutes part or all of the sales price and which is due more than 6 months after the date of such sale or exchange under a contract.Q1: Since we are not financing for more than 6 months, does the imputed interest component not apply?

*Risks:* There are risks such as unexpected renovation costs, longer holding periods, and market downturns affecting the sale price.

Because the underlying housing asset (the leased property) is only one component of an STR hosting business.

Are there any hidden pitfalls or unexpected benefits I might have missed?

Hey @Joshua SmithWhat was the unexpected issue in my first house hack?

-Keep a fund for unexpected costs and vacancies (CapEx)Learn from Others:-Join real estate groups and forums to get tips from experienced investors.

The option has two components: a price and a date.

Here’s my takeThere’s obviously a big difference in “unexpected” expenses between a property in which just had a gut renovation including roof, all operating systems, siding, etc., and a older property that someone slapped a coat of paint on.  

A streamlined process for cost segregation studies: AI is able to help streamline the cost segregation reclassifications by analyzing and identifying property components into their appropriate useful life more efficiently than traditional methods.The ability to identify eligible tax credits: AI is able to sort through and analyze a vast amount of tax laws and regulations in order to attempt to identify potential tax credits available to the real estate investor.