It's perfectly fine to purchase your new property using a complete 1031 echange. 

This revelation prompted me to reconsider the purchase, as it indicated financial instability and substantial building repair needs.

Find the real estate deal you want to invest in and bring the contract to your new custodian where they will have you fill out a purchase authorization and sign the contract on behalf of your IRA.

I, instead, invest in midwest markets (Memphis and Detroit), mostly doing BRRRR style purchases.

The other option is to sell it & use the proceeds of that to purchase another property.

The plan is to create an LLC per investment property we purchase, held in the holding company. 

I have a vacation home that has no mortgage and we are trying to pull out equity from it to purchase another property to use as a rental and vacation spot. 

I want to purchase properties all over the U.S. in specific areas that my wife and I calculate and predict high returns on with multi family units, apartments, duplexes, etc.

Purchase price: $1,730,000 Cash invested: $560,00014,000 SF 11-unit mix-use building consisting of 2 retail spaces and (9) second floor apartment units.

So, either the purchase price is very high, or your expenses are high.