If you purchase within 6 months, do a DELAYED Financing, which allows you to access 80% LTV of purchase price with terms equal to a purchase (better rate than refi). 

Many people buy in larger cities like this because the paper cash flow looks sweet, but the reality of it, across the board right now - good cash flow equals lower neighborhood class, more variable tenancies, and tons of hidden capital expenditures.

Which unfortunately these comments require extensive legal time which equals a lot more money.

And if so, the 1031 would have to be for a "third" (or more) property equal to or more of the value of the selling price, correct?

Not all felonies are equal.

Thus, bringing the borrower’s principal and interest at $1,949.63.Net Cash Flow for this may equal $808.66, with a 14.12% Cash-on-Cash Return.In this scenario, the borrower is looking for $68,746.00 to fund the Entry Fee.

Quote from @Mary Joe: As long as you have justification and you apply the standard equally to all applicants, you should be fine. 1.

All things being equal (interest rates, fees, etc) I would recommend going with a veteran LO.

If they are VERY professional, they will have their processes in writing as verification that policies are enforced equally and fairly by their entire staff.6.

I would pick something better, which does equal higher acquisition cost