It might qualify under a change of employment rule.

The conventional loan obviously has better rates which I qualify for but by the time I close on this existing property going conventional, the new property will already be at auction and lost. 

I imagine finding the range for what the going rent would be is, in theory, easier - but would that information be enough for a lender in terms of qualifying that income against the debt for qualification purposes? 

I can likely not qualify for FHA.

I would have folks in the house that probably don’t qualify and maybe need more than the 20K Down in my pocket to get them financed.  

Some of the crowdsourcing companies like Realty Mogul, Crowd Street, Fundrise, etc offer 1031 funds via a Delaware Statutory Trust.Or, if you're interested in bleeding edge, invest it either directly or using a fund into a 'Qualified Opportunity Zone'.

My understading of the law is if I lived in the property in the last 2 of 5yrs, then I qualify.

Second though, you would qualify for that $250K of sec 121. 

If you have a sex offender apply you screen and assuming they qualify in all other aspects then why would you not accept them.For those wishing to throw their emotions and personal moral outrage and righteous indignation onto the table try to keep in mind this is nothing more than a business decision.

We currently live in Long Beach, California and are so confused on how we can get qualified to purchase a home in Atlanta.