Again, this is a factual action that will ensure that you remain in control of your property and that the other tenant has the peaceful use of the property that is a legal right.Fun, huh? 

Quote from @Jonathan Greene: That's very limited information for someone to help you.

Single family homes are usually the best as they have fewer limitations.

Some banks and lenders will calculate your Heloc payment based on the Max limit even if you only have a small portion used due to preventive risk. 

Also, I noticed his office has poor controls over sensitive data.

The $200k financing would serve as a purpose to be a downpayment, or do you want the $200k to be the top limit of the investment?

This last bank limitation isn't a bad thing in my opinion because the long-term rental yields are low and what are you going to do if a tenant doesn't pay?

THEY ARE NOT LIMITED TO ONE PROPERTY.So, they can 1031 to 2 or more additional properties OR 1031 into a rental property plus a DST so that all the profits are used up in the exchange. 

The title company that was used for this transaction held things up and unfortunately, we had no control over that.

Just like going to an auction where lots of people are bidding and there is a frenzied atmosphere... and you want to be a part of the action...you bid too, is not a good (controlled) way to spend your money.