I'm literally just starting out with commercial real estate ventures, beginning with 30 unit apartments.

Generally, syndications, joint ventures, partnerships are structured in such a way that the investor is not buying an interest in real estate but an interest in a security, which does not qualify for 1031 Exchange treatment. 

We then pulled the remaining chunk of equity out of the rental portfolio (to a safe 70-80% LTV) and ventured into flipping houses.

Good luck on your new venture!

I go with the longer term loan, take the highest amount of cash flow possible and use that for investing in other ventures.  

This is my scenario, 1, I could refi and pull out 140k which leaves me with a essentially brand new house to rent with a 400-600 a month cash flow and if the market holds, about 100-150k in equity. and i can reinvest that 140 into a new primary and most likely 1 other investment property, maybe two..its a tough market in Seattle, i would have to venture further out. or 2. sell, and realize realistically around 250-300k free and clear(I would have to pay capitol gains over 250k I believe), then i would need to buy another primary which i could do with 50k, and that leaves me the rest to invest as i see fit. this scenario is a lot more inconvenient because I would need to sell/move/rearrange my life to accommodate, but It affords me a bigger chunk of cash to work with that isn't tied to any one house. and potentially affords me a few more options like buying a house cash without having to borrow from a hard money lender, etc. to do another flip,  or  get into multifamily, or just get a few more buy and holds. 

Nothing ventured, nothing gained. 

With a sizable bankroll, monthly passive income to support me in the interim and connections in the mortgage industry, I felt very comfortable about having chosen investing in apartments as my next venture.

We're in the midst of creating a Joint Venture Agreement.  

Wishing you all the success on your real estate ventures!