So, yes, technically your wife can count towards the occupation requirement, but it's geared more for military members PCS'ing or setting up a household in a new location before the veteran can occupy the home, or a member on tour in one of those unaccompanied "hardship" locations where families aren't welcome, or on deployment, not for a couple who live in the same major metropolitan area.  

On the next set of boxes for question 9a I am supposed to declare the Type of Entity.  

So basically is there a set rule that says if a new tenant moves in under a new lease that I cannot raise rent to market, in this case it would be almost double. thanks for taking the time to chime in anyway. all input is appreciated  

A 1031 will start with the sale of that property so first you need to get with the commercial agent and set a game plan of either sell or lease extend, new lease and tenant or whatever.

If you are looking strictly cash flow and have a solid team set up in that location then it could be a great strategy!

A meeting was set up for me to sign docs, and briefly read docs as I was signing, the wire instructions were included.Just prior to wiring funds , there was a warning about wire fraud , and I noticed that no letter head was included with the wiring instructions.

Additionally, @Parker Cox, Kevin Fox, and I are working on setting up another meetup soon, which we will post about on BiggerPockets when we have the details ironed out. 

I am likely interested in using an FHA loan at that time to purchase a fourplex, but am definitely not set on that, as I understand much can change in two years in the market.Thanks!

Pay off the balloon and then offer him owner financing on agreeable terms on the $38,000 plus any fees you might incur setting up a new contract.

We use the whole suite of docs from Wisconsin Legal Blank - just order a set online or download the pdf version.