Unemployment- Although a good amount of unemployment is associated with furlough from Covid-19, it still a remains a concern for rental property investors like myself that a lot have also completely lost their jobs.

Btw, I cashed out 260 k, using 30k to pay off the Residence itself, and the remaining 230k to buy the investment property.

That states that with 25% vacancy. the other rentals must be able to cover the remaining mortgage this is even if i were to occupy one of the units on a FHA purchase.

So you would pay tax on the difference but shelter any remaining tax in the 1031.

You simply claim the rent for the remaining 7 months, $7k, minus the same $15k expenses = $8k loss.

as you are paying the entire down payment, you may want them to pay 1/3 of the mortgage, taxes, utilities and help look after the place, you pay the remaining 67% and get all the rent from the 2 other units.

I'd be looking to use your remaining funds on a new investment property.

Should I pay him $31k cash to get his mortgage paid off, and then have him seller finance the rest so I can use my remaining cash for rehab?

Put the remaining amount on your debt.

Even during covid, tenants have remained employed by essential employers such as FedEx and St.