What are the lease terms; 3 month, 6 month, 12 month.

Best bet is to contact your trusted lender or other financial institutions to compare offers to find the best interest rates and terms that suit your investment strategy.  

This house is also located in the ideal location to be a weekend/short-term rental.

The money needs to be kept in a 1031 account until you find a replacement property.Holding money in a treasury direct account is good for short-term.

I don’t see a rental investment strategy posed in the question here, but it is true that the ratio only has to be 1:1 More details would help tremendously 

Hope this helps,GlenBelow are the emails and details of the project for other to see and get a better understanding of the potential downsides. https://www.fundthatflip.com/d...

My wife is still hesitant about long term tenants, but I think she is coming around.

You can hypothecate collateral from one person/entity for use by another person/entity, but you might want to borrow the money as a home equity loan (fixed payments and term...one time funding) or a home equity line of credit (HELOC).

Consult a Professional: Given the complexity and variability of these regulations, it is advisable to consult with a real estate attorney or a professional specializing in mortgage notes to ensure compliance with all applicable laws.For detailed and accurate information, please contact your state’s regulatory authority and seek professional advice.

Looking to do mid term rental in the unit that is left furnished while they are not there and Section 8 in the other units ideally.Just trying to get my reps in with deal calculations.