It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.

Average vacancy term on a renovation project: 3-6 mos. unless severely damaged (i.e. fire).

So the long term average will be more important, but you will not know that for awhile.

This will be subordinate to the existing FHA loan, but you’ll need to qualify based on your credit score, income, and debt-to-income ratio.Home Equity Line of Credit (HELOC): A HELOC could also be an option, offering flexibility in how you draw and repay funds, though it might come with variable interest rates.Balloon Payment Loan: This type of loan can offer lower initial payments with a large lump sum due at the end of the term.

Do you have an idea of the short term rental regulations in the SLC?

The only time that you might run into a problem is when an HOA does not allow for short-term rentals.

Their model seems to be to short term rent (3 months) to insurance companies and then pay 1 or 2 months rent (late) to the owner and eventually just quit paying. 

Many lenders offer flexible financing terms for investors.Do you have any properties in mind?

From the discussion, it would seem that this may go against the terms of the 1031x and that I would need to keep my name on the property too. 

According to this Gallup survey, real estate is the most trusted asset class no matter the household income level of respondents.