As long as the 1031 property is also triple net lease, you can UPREIT (assuming they accept it into the fund, as they do not accept everyone).Also, I know of a very conservative multi family sponsor with multiple estate cycles experience, conservative leverage, high skin the game that will do a 1031 exchange without extra charge as long as it is over $2 million.

They partner with active operating sponsors who need to supplement their own capital raising efforts based on their deal flow pipeline.And when the market eventually turns and funding dries up, who is uniquely positioned to take advantage of it? 

@Story MollerAre they dry-wood or subterranean?

I will go with an experienced lender any day because they have a reputation to protect in addition to skin in the game.

They have more skin in the game then you do.Make sure you get clear title.

The place is a mess and needs major, major work — bugs cracks in the walls, significant water damage in the kitchen floor that has led to dry-rot in floor joists, etc.

We have skin in the game as it's "our house" in the eyes of the Hard Money Lender and plan to be able to flip it within 3 months.

A variant on options 1 & 4 is to take out a heloc instead. that way you have dry powder ready to use for another RE acquisition, and you’re not paying interest until you buy.

Again, other might feel differently here.b) Skin in the game: as a conservative investor, I understand that the dirty secret of industries that the waterfall compensation is in the line with me and incentivizes sponsors to take more risk.

lots of nice guys doing it around here but the good deals seem to be drying up from them in my opinion, but hey maybe i am too much of a cheapskate.