@Kevin Zhang, You've hit on a huge use of the 1031 - the ability to go from high cap expense risk to low cap expense. 

Rents in the area are between 850 on the low side and 1450 on the high.

LED "fixtures" are a high cost and high maintenance proposition.

Highly suggest partnering up with someone and house hacking.

Unless you run a high risk business, I'd not use an LLC, and especially NOT for ownership (zero advantage).

I am particulalry concerned for those who spend hard earned money on courses and mentorship where they are taught to use credit card debt to fund the downpayments and/or improvements and the ease of funding deals when in actuality the only funding available is high interest alternative lenders.

This is going to be a DSCR loan since I don’t have 2 years worth of history, but I do have a high 700’s credit score with zero debt.

Can you do this, potentially but typically it will be written that you need say a 2/3 or 3/4 or high majority to do this.

(Mix Use) any recommendations are highly appreciated.Thanks.

Must be a really high end rental for a faucet to cost that.