Question 3:  (Cash Boot)  If I finance the new property and put only the $50,000 down via the 1031 exchange and the qualified intermediary then cuts me a check for the remaining $150000, have I avoided the cash boot on the $150,000 because I'm only responsible for the $50,000k in net gains or do I have to put the whole $200000 down on the new property valued >/= $215,000 to avoid the cash boot?

I highly recommend getting in touch with a 1031 Intermediary, they may have some ideas and insight that would fit your situation and could give you some recommendations for who else to talk to.  

looking for a 1031 intermediary in the lehigh valley.

In a reverse exchange the 1031 intermediary takes title to your new property in a special entity called the "Exchange Accommodating Title Holder" (EAT). 

@Leta Eydelberg, not to beat a dead horse here but like others have said it's also too late in the day to be asking for 1031 rules interpretations once you've chosen an intermediary and started a 1031. 

@Dave Foster I wish I would have known a qualified intermediary prior to learning about 1031...or heck, even now!

@Michelle Costello I'm not a qualified intermediary, but I did do a couple of very similar transactions like Dave talked about.

The government wants to help us because we are providing housing Money is held in an intermediary account in the interimRules: "like-kind" stipulation - the property being bought needs to be "like-kind" assets.

You should discuss your transaction and potential strategies with a Qualified Intermediary. 

Literally anyone can cobble together some documents and be an intermediary.