The Lazy 1031 is similar to the regular 1031 in that you have to stay on it until you die to defer and avoid the tax forever.  

It's great that you want to house hack and that you have a solid foundation of savings, but like others have said, you will need steady tax returns for two years to apply for a regular FHA loan and the income has to work and be consistent.

Hey @Christian ODonnell what I recommend doing is finding a Property Management company in that area first they usually have contractors that they regularly use and trust.

However, you can actually save millions of dollars in taxes by starting during the blueprint phase.Here are some examples of ways to save on taxes:For conference rooms in a hotel, Instead of installing regular walls, if you install moveable walls, the walls could be depreciated using the rules of bonus depreciation.For a multi-family apartment complex, changing the model of the bathroom exhaust fan to a variable speed could help qualify for the energy credit which is $2,000/unit.For a large apartment complex, installing a ceiling fan could allow you to qualify for 45L tax credits.For a hotel, if the porte-cochere is detached from the hotel building, it could be fully deductible in year one as it could be considered a land improvement.

Building costs to remain high - The 2008 financial crisis knocked a lot of great builders and contractors out of the business, and the supply of construction labor has not recovered nearly enough for demand.

Demand from tenants is high and there is not much supply on the market.

The gel coat has to be regularly refinished and fat people can actually break it. 

Are you looking at student housing or regular folk?  

Employment verification and personal reference checks further validate the information supplied by the tenant on the application.

Mine was prime plus one percent for a regular loan and amortizated over a longer period for a homePurchase.