This will allow you to purchase more property and also get the use of that $30K+ to add to your portfolio.The 1031 needs an extra player - the qualified intermediary and there are some strict guidelines on timing.  

Additionally, I will be working full-time and pursuing my Master's strictly to put that extra BAH check into the capital fund also.

The agreement between MLS organizations & agents is very strict.

My only partners are my wife and the bank I borrow from, and they are both pretty easy going so long as I abide strictly to the terms of the contract :)

I know a lot of peoples goals are to strictly increase their net worth or cash flow, with greater cash flow usually coming from leverage.My question is how net worth is calculated.

I don't quite have the experience to wager my personal house on one deal.  

But strictly in a buy and hold.

Do you know how strict they are on the requirement of living in it myself for 2 years to avoid those capital gains?

FHA is more strict on safety, railing etc than conventional.

I see a mostly 5-20% down payments from folks with strict underwriting requirements.