How much are you actually out of pocket?

I've done a TON of DIY (actually, probably multiple tons if measured by the mass of building materials!!!).

But your QI for the 1031 can form a holding entity called the Exchange Accommodating Title Holder and actually take title to the new property to hold it for you. 

One is your home the other is your rental.If both units are the same size, then you split the interest and taxes.For the rental, you take deductions such as depreciation, and actual expenses.

@Alexander Felice, it’s actually a portfolio loan.

I read the  biggerpocket article about it and seems to be a smooth process, however not sure if it will actually be this smooth doing it myself.  

You actually likely want a syndication attorney or a securities attorney if you are wanting to raise funds from arms-length third-party investors.

@Kourtne Stancil I actually am taking an online marketing course at the moment for using Google and Facebooks ads and its very informative.

I'd have to run sewer and all utilities to it, as well as do a studs down remodel (it actually has good bones and a reletively newer asphalt shingle roof). 

It would be a lot of work (that part I'm fine with) but I'm not sure if I would enjoy the actual job of being a real estate agent.