Ask for a business banker. 

Todd,A Reverse Mortgage or HECM loan is an Agency backed mortgage that allows you to access a portion of your equity with no payment required, the interest you're not paying gets added to the loan.

As an example, DC allows Associate Brokers to ma age properties.

FHA allows you to live rent free and use projected rental income from subject property units to help you further qualify, conventional does not.

if you plan to use it as a 2nd home as well as lease it out, conventional loan will allow you to just put 10% down. 

This on going relationship should allow the PM to get a discount on the repairs which should keep your over all cost the same as if you did it on your own.  

Lenders will allow up to 65% CLTV on a short term loan.

As I understand it, the Small Business Administration (SBA) doesn't loan money, it partially guarantees a loan from an approved lender to a qualified borrower, so the money is owed to a lender, not the SBA. 

My friend/business partner and I are working to try and set up a deal structure on a 1031 that is most equitable for both of us.

Good business relationship?