Purpose of funds: Home restoration for rental.

They plan for perfect case situations as others mentioned and massage the debt structure with I/O for stabilized,short term fixed loans,  or ARM's to make the deal pencil.

I have recently purchased my first ten units and I am currently about 50% done with the complete restoration.

I purchase their raw data by zipcode(s) to analyze historical/competitive properties and massage it into the critical details I am looking for (need some basic excel skills).  

Finishing touches, renovation guru, heartland restoration 

My understanding is you get a one time restoration of entitlement where if your first property is paid off, you can get the entitlement used on it back without selling it.

If it is too much of a loss, check the ID rules (you can check my blog on here if you're not familiar) and ID as many properties as you can within those limitations so you still have a chance to go check them out and worst case, you buy one and use some of your money to defer tax and take boot on the rest, or worst case, none are good deals, you lose the 1031, but better to at least ID a bunch and give it a shot.

There are a few pockets that resemble North Park with beautiful restored homes, owner occupied, etc.  

I went to a local restoration business & asked for referrals. 

The principal for Making an Accommodation is the tenant pays for the alteration AND any restoration.