So the house has been paid off for quite some time, and has stunning views and waterfront access. 

I dont have a ton saved up (we are aggressively paying down debt and on a budget) so I wanted to use this method to acquire my first rental property. 

Low crime rates, decent demographics and commute accessibility.

And when an exchange costs between $750 - $2000 that's a small price to pay to get a chance to look at a new hand and see what's out there.Owner financing can work with a 1031 as long as you have access to funds that can replace the note from your exchange account. 

I know it's a little weird having more than one rel estate agent since they have access to MLS which is the same for all but with a whole seller they all have access to different properties correct? 

I know that the money has to stay in the bank for a couple of months if you don't want to explain where the money came from (cash business).So I can have access to cheap money I just don't know how to set up the transaction in such a way that it doesn't appear as borrowed.

Can anyone provide assistance with accessing the Real Comp matrix for the Detroit metro area?

You could still do an exchange but you would pay tax on the $70K and shelter the remaining $63Kish of profit.If you have access to outside funds you can "buy" the note out of the exchange and replace it with cash. 

We like to offer wide access to our units, to help drive interest and to prevent discrimination claims.We use a scoring system to objectively rate the applications and choose the best fit for us.Some things to consider: https://www.biggerpockets.com/blogs/4445/44420-ten...

Let's say you have acquired a rental property and are almost done with renovations.