If we are unable to reinvest all required amount for 1031 exchange, what portion of the gains get taxed ?

Long story short they were about to lose their home and I made a deal with them to buy it but it needed to be taken out of bankruptcy and gone thru probate.

As a conservative investor I believe we are late in the cycle and I don't want to newbie sponsor learning expensive lessons with my money.

Would that be allowed as long as we are not personally working on the house?

We are negotiating with the month-to-month tenant as they don't want to leave and hopefully, we will come to some agreement there. 

TIA I look at these things the most when looking for BRRRR cities - Rent-to-Price Ratio: Look for cities where the average rent is high compared to the average mortgage cost- Population and Job Growth: Focus on cities experiencing steady population and job growth, higher than national average- Availability of Distressed Properties: Look for cities with a supply of pre-foreclosures, short sales, and abandoned propertiesNormally bigger cities in those states should do well, houses are still somewhat affordable (comparatively) and if you do a big rehab it'll pay off

Long story short, we ended locking in a 4.75% on a 30 FRM, got $18,000 in concessions, and another $10,000 off the last contract price. 

Indeed there are other ways like the short term rental loophole.

That said, I just did this as POF for reserves on a $1MM short term rental purchase in February.

Otherwise, the short snippets you receive appear contradictory, even when everybody is correct within their own context.