Some say commercial some say residential. 2) Can we do a 1031 exchange so we can use the equity from on of our rentals? 

I'm looking to sell a single family in the smokies and wanting to do a 1031 exchange into a larger multi family.

So you basically get the subs to waive their right to put a lien on the property in exchange for payment. 

What currency will take place of the dollar?

But, if you change your mind, you might consider using a 1031 exchange to "trade up" to larger properties (e.g. multifamily) while reaping the tax benefits of that type of exchange. 

If the margins are too low to sell then I will hold for 2 years and start to DCA every 3 months with a new property to 1031 exchange in the future to allocate for bigger projects tax free.

My current thinking, and I waffle, tells me to flip, take the $45k post-sale profit, and do a 1031 Exchange.

However, if I was a seller, I'd do that in exchange for some non-refundable money.In seller's defense, what happens if you change your mind, don't close and have two vacants (= ZERO income) now?

If you live in it for less than 2 years in a 5 year span and sell your looking at capital gains taxes unless you do a 1031 exchange.... some people leverage this incentive so you need to determine where you fall...or are you keeping it for 30 years?

I've been thinking about getting a partner to pay for the rehab in exchange for a percentage of ownership, but I'd hate to give up the cashflow when it's fixed up.