You'll want to look into whether there are any existing "controlling interest" statutes implicated in the jurisdiction where the property is located.

The one area that does target 1031 Exchange clients is the Delaware Statutory Trust or DST. 

I am generally a believer in checkbook control, especially for those who have concerns about the safety of their money.

Now if this month doesn’t work I won’t be nice again…Consider yourself VERY lucky… I use 3 attorneys regularly here and they all echoed the same sentiment… landlords here, including commercial property owners such as us, have absolutely no control over collecting rents… so much so that our clients are doing us a favor by paying.

However, if you have the means, commercial can be very rewarding once you put a property on "cruise control".Just one person's opinion, but I hope it helps!

Then there's the concern of how long will it take for the lender to dispatch the inspector and reimburse me.Are there any HM lenders who actually release the funds upfront so the buyer is in control of paying in a timely fashion?

Sounds like an expensive area... it's LA :)  Rent control? 

Full cosmetic rehab and hardcore "de-smoking."

You should focus on the fees the lender controls (origination charges and the fees you cannot shop for).

Hopefully you realize that is a rent controlled property (state rent control law).