When you do a 1031 exchange you carry whatever basis you have left in the building you haven’t depreciated and add it to the amount MORE the new building is worth.

I would definitely like to purchase more STR's and/or fix/flip into STR's so it would be nice to have access to more funds Thank You!

Unlike an annual rental where the rent is locked in for a year, the prices and amount of vacancies have a high-rate fluctuation.If you do not live in the state than you may not be aware of SB 280.

The longer the restriction, the higher the amount of vacancy I would expect.

Obviously this is an investment as once she is finished with school she will make more money, but realistically we are looking at the next 4-5 years being pretty tight on cash from only me working and paying off the debt.Is investing even feasible with low amounts of cash on hand?

I am interested in starting a family business where we build custom homes, do fixes and flips, and have rentals.

No amount of money is worth you and your wife's safety.

Is it recommended to have it furnished to reduce the amount of moving damage it can cause?

Remember alot of Americans have a large amount on credit cards and they have seen thier rates go from 8-12% to 12%-19%. 

In low appreciation markets where the return is historically not from appreciation (where appreciation does not noticeable exceed CPI) then it makes more sense to pay down the loan amount to increase the cash flow but there are still better options because F/F home financing (even with the rate increases) is some of the cheapest money options available.