@Ryan Groene makes sense.

Ultimately, it would depend on the amount of your gain to see if a 1031 exchange financially makes sense.

That is why they would prefer your duplex or 4.As far as construction costs making sense building one duplex/fourplex at a time..

Also, with the red tape involved in 203k, I'd rather go out of pocket in that sense too!

That doesn't make a lot of sense.

I have been doing some research in Houston (mostly the northwest of the city) and see quite a few opportunities on the MLS (zillow) for distressed properties in need of rehab where the numbers make sense to Rehab, rent & refinance (BRRR). 

The number don't make sense and how do you refinance?

I plan to do short term rental but I want the numbers for long term to make sense as a backup plan.

@Arthur Means Historically, the financial point at which the PSLF makes sense, versus paying it off, is $60k in loans or more.

It seems to me getting the mortgage first would make the most sense since the seller would be frustrated if you didn't have the money and someone else did.