There’s a lot of misinformation out there that is presented as knowledge.One can do a reverse exchange where one buys the new property first and then sells the original property after - all via a 1031 process. https://www.investopedia.com/terms/r/reverse-exchange.aspReverse exchanges do exist and they are “legal”. 

Are they all long term?

Would you happen to know if they insure 2-4 units with short term rentals?  

Something to keep in mind when you are looking for stabilized loan options for the long term. 

It seems as if there will be some upgrading of the units, are you anticipating a sale or refinancing out of the subject to different mortgage afterwards or is that the long term debt instrument you want to keep?

If it is cheaper to own, you may want to buy and even if you sell in 2 years (assuming the development is finished on time), you may still come out ahead in terms of selling the property vs paying someone else's mortgage.

@Mark Walker EM is just 1 of the terms of you're LOI/PA, and thus exactly what one peg's it at all depends on a multitude of factor's. 

We have done it all, as you have without spending a penny on gurus, and yes 150 bux to set up an LLCKeep crushing it bro,hey, call me when you can, I need 10 more props   It's Aussie slang mate heheIn American terms, "He is pulling your nose" hahahaAussie's are more rude so "Pulling your sausage" hahaSorry mate,Will try calling todayEnjoy the weather 🙏

It’s my understanding that a trust account not required for a short term rentals nor is a real estate license actually required for managing short-term rentals.

But you can find ways to minimize the amount of contact you have to have with them when they start to become too big a headache.And at this point, it would be easier to just turn it over to the attorney and let them deal with them for you.In terms of burnout, it happens to all of us.