But I would be circumspect about how I requested the records (need them for personal research project), how the information appeared when disseminated (all indications that it came from the State would be removed), and how I phrased my interactions with property owner's who were identified through use of public records (I'd never mention that the owner's identity or address was obtained from the State or County, only that obtained the information legally at considerable cost).

I'd echo what @Ron Fletcher mentioned on paying off the asset. 

You preferably would like to buy property in an entity to insulate and help protect your assets.

Eventually I set a lofty goal for myself to try and obtain 3 cash flowing properties by the end of 2018.  

Also look at what assets your construction company owns. if you have very few assets and you have sufficient insurance then there is little to be concerned about in case of a suit against your company.

Doing monte carlo for stocks, but just listing my real estate in my assets column and mortgages in my liabilities column without doing monte carlo modeling of my real estate holdings is not enough.

Syndications and DSTs may or may not qualify for a condo like-kind exchange, depending on the asset and structure of the exchange.If it were me, a small MF is exactly what I would purchase next, depending on the amount of the proceedsI would also get an agent to find the next deal for you, one that works with investors and can simply bring you properties that meet the 1031 and your criteria.

Ryan,Asset based lenders do not factor in debt or income - only credit, cash flow of property and loan to value.

The reason 10% sounds to good to be true, is because a cap rate that high is indicative of a high risk asset.

I’ve been getting some conflicting information about this… We would prefer to use a conventional financing (non commercial loan) to obtain the 4-plex.