Always consult with your attorney before you rely on the above information.

However just beware the the biggest firms will not be able to give you access to senior consultants who deal in 1031 regs all the time.

Anyway, the short responses to your questions1- live-in renovation in 2011 FHA-insured loan2- tenant screening is key if you are going to be neighbors with your tenants...and introduce yourself as the "property manager"...separation makes things easier when you live next door. 3- first time...total guess...got lucky and settled into a $40k equity position from onset...did lots of homework, but limited to zillow back then...4- don't be afraid to pull the trigger on a deal. consult a great local agent and be confident your numbers meet your needs.

I recommend consulting a cross border attorney for more details! 

It fascinates me, so I don't mind the consultation fees at this point of learning.

Again, consult a lawyer.

Mitchell,I'm neither a CPA nor 1031 expert, so you should consult the experts when performing the transaction.

I have a few promissory notes and would like to consult with professional regarding exit strategies.

However, you will not be able to convince them of this if they believe otherwise.Two options:  Move out according to lease terms or tenants to purchase flooring.Caveat:  If they get bad advice from their Homeopath, Naturopath or other unqualified consultant, you could be headed to court.

If that use is allowed, then I would consult a local attorney who is familiar with the zoning and has experience with the board to help guide you through the process.