Thank you @Mike Castellow for the reply.

Thank you for the reply @Ben Sears!

Will I need to go to an attorney to have them draw up papers that outline the agreed upon loan terms?  

Thanks for the thoughtful reply.

Thanks for the reply, Ryan. 

@Bob Langworthy thanks for your reply.

If I cross-collateralize and get a first lien on the cross property, will I obtain it if my borrower defaults on the payments and I foreclose, even if the remaining equity in LTV is significantly less than the value of the cross property?

:@Justin GuzmanI think that a family of 6 can live on $5040 a month after all of their bills are paid. (56% of 9000) Thanks for your reply! 

First off, thank you all for the replies, great advice.

1+2) If you own an investment property, with 1031 Exchange I sell that property, use that funds to invest in a like-kind property and at some point I live in that new property for 2 years and then sell that second property, will I pay capital gains taxes?