As a result we overpaid in interest and the appraisal came in so late that, when it was inaccurate in a number of ways (sq ft. was wrong, rents were wrong, comps very far off).

I hadn't stirred the pot lately and this one was just ripe for picking...

Trying to find something in Raleigh at my price range is obviously going to be tough...even out here where I'm actually located in Wendell (on the plus side, our house has appreciated like crazy since we bought in 2012).Getting started is inevitable, just gotta finish gathering the funds now and fine tune the plan. 

(ie: late fee's)2.

The side we would be living in is a 2 bed 1 bath with a finished basement and could rent for 950-975.

Her credit score is 500 and is way under the requirement & has a long history of credit card bills being 30-60-90 days late.

Especially due to a 1031 exchange.By the way, if your exchange is not finished yet, you MUST file an extension anyway.

But, hey, it's never too late to get started, right?  

I thought letting them know the deadline date would make them even more motivated to sell their house before it's too late.

Are the tenants late with payments and going to be your problem to evict?