Will it be very complicated to do a 1031 Exchange for my portion (provided that we relinquish the property and the sibling just receives the cash for her portion)?  

The money orders were altered and cashed by someone else.

Purchase price: $402,800 Cash invested: $148,673 Sale price: $590,000 Our 1st rehab flip!

Purchase price: $135,000 Cash invested: $130,000 Sale price: $349,900 Better than new!

I sold all my NPL's in NY and I felt such a relief.1 & 3 not so much as a surprise to me, a lot of training going on right now on that front so gurus raking in the cash. 

You want to either read your closing disclosures because it will state if you "Can" or "Cannot" switch the title vesting to an LLC.If you want to transition your primary into an investment property I would recommend using a Portfolio or DSCR program by doing a simple refinance either cash out or simple rate and term for intended use.

It is a cash only as is fix and flip.

I have been BRRRR-ing for over a decade and cash-out appraisals are always more conservative.

Cash flow varies unit to unit and seasonally, but is consistently a viable business model. 

If you've got a lot of cash, look for places where it's cheap to buy, there's a high demand for rentals, and the chance for growth.Good luck!