Funny, seems like this thread just keeps breeding house-hacking interested ME's, as I am one as well, I've been listening to the past BP podcasts after my brother turned me onto them, and now trying to get involved in other ways to continue moving forward. 

Ive been wanting to get involved in real estate but funding has kept me stuck.

I was more or less thinking about it as providing a one up to competitors, but did not think about the risk involved!

ONLY do business when your starting out with reputable HML and one who is local who you can walk and in and talk to them in person.there are bigger players that are in multiple states. but NO one is in all 50.. these include.LendinghomeLendingoneLima oneVisio GensisAnchor Aloha Conventus and on and on and on.. there are plenty of legit lenders out there. 

As you pointed out the prior 1031 is complete and not affected or involved.

Well how involved do you want to be?

This will give you an idea of how much involvement you will be expecting once they rent.

There are many variables involved.

He's helped me and few buddies buy multiple rentals in Louisville.

I found multiple private lenders (individuals) by going to local real estate Meetups.