I wrote a long piece a while back you might find helpful: https://www.biggerpockets.com/blog/due-diligence-ultimate-gu...Good luck!

I have seen some hard money loans for rentals that can cover the rehab but the rates and terms are terrible.

The tenant didn't work out, but I at least had some success.

My passion lies in real estate development, particularly in the realms of short-term rentals (STR) and long-term rentals (LTR).

Also make sure your contract allows for obtaining financing after the initial seller financing term.

If the numbers broke even at 3.5%, investors would be flocking to buy that property putting 20% down.House Hacking is about the long term gain.

Since you acquired it so recently from when you will close on the loan (in your case 1 day), certain HML lenders will treat this as a purchase rather than a refinance which offers better terms, more leverage, etc. 

My estimate would be that in a house hack you would be slightly better terms on the loan.

As long as I do the 1031 properly (intermediary and all) and don't touch the sale proceeds, nothing changes from the interest tracing perspective? 

We're also able to evaluate our rates, and keep pace with inflation, on a monthly and quarterly basis because of shorter term leases.Now we syndicate larger self-storage deals and work with passive investors.