I would be using the full amount of the exchange plus adding cash to cover the amount owed. 

Because of those concerns I think that a modified Brrr makes sense so that acquisition and rehab is covered in cash and ending with a low debt to income ratio.

I had a consulting architect - it cost me about $1,200 - who helped me with code issues related to fire and egress.

(complicated but here's a long explanation :https://cgbarbeau.blogspot.com/2024/02/fha-self-sufficiency-... ) When a property is higher cost the rents don't cover the PITI for all the units.DCSR requires 10% down and property rent ready.

Often the HOA Master Policy covers some or all; you/your insurance pays the HOA deductible; the lower unit pays for any upgrades they installed.Water damage that presumably occurred over some period of time could very well initiate mold growth if it was not promptly and properly dried out.

I found that my weekend rentals are wedding related.  

You have freedom to invest as you wish, but most likely you will not have complete access to the funds as DST investments tend to be relatively non-liquid.Another approach you may consider is even less well-known than the DST.

The city estimates it will receive $320,000 in fee-related revenue over the next four years.The ordinance also limits how many “type 2” short-term rentals can exist within a certain area.

People often talk about Bay Area prices being "inflated"; however, what I find valuable is to compare what has happened here in the Bay Area versus in other parts of the country relative to true inflation rates. 

All maintenance for the first year is covered under the builder warranty and everything is so new your CapEx will be super minimal for a long time.