I was 4 months into my career post college so I emptied my savings account and loaned money from my parents for the down payment.

I believe that it has to be OO for 12 months, barring extraordinary circumstances, like getting transferred out of the area for work.FHA has a whole department dedicated to "occupancy fraud" and given that it's a felony, I'd steer very clear from it.

For the past few months or so I’ve been “scoping out” areas to buy & hold in (LTR). 

Yes - mortgage rates are greatly influenced by treasury yields and have been moving in conjunction with the terrible bond market of the last couple of months.  100% true. 

I am not sure if 1031 funds can be used to pay for construction on already purchased land from over 12 months ago.4.

I’ve entered into an LOI to sell owner occupied commercial real estate (special land use permitted cannabis property) that I’ve held for about 18 months.

I was able to increase my monthly income rate of $1800 to $2300.

To get this, I’m paying them about 10% over asking price in total purchase consideration, but the terms and monthly payments are so favorable that it really doesn’t make much of a difference.Although I’ve read extensively about these deals, this would be my first and my big question is around the taxable basis of the property.

We are having renovation/repair work done over the next month and making the decision to sell or buy.

They did stop distributions some months ago.