It would only be a concern if you already had a judgment for a past debt. 

It would be a lot harder to call you negligent unless as an agent you did not properly address concerns and they can prove it. 

Or are you concerned some might not process a wholesaled transaction for some reason?

There's enough from the proceeds in the 1031 to purchase 2 properties, but my wife is concerned that we're over-leveraging ourselves.So, I have 2 options.1 - purchase 1 additional rental property with all the proceeds from the 1031.2 - purchase 2 additional rental properties and split the proceeds from the 1031.I understand you may need more details, and depending on your questions, I'll be glad to answer. 

The other thing is your too concerned with CAP rates. 

I'm pretty sure they run many personal expenses through the business, but I'm most concerned about the top line.He wants $2 million for it

I’m concerned the market will drop and my equity position along with it.

The other concern is renting by the bed.

It should be your primary concern in doing the numbers. 

I would be very concerned if you engage him to be your professional!