-HOA fees are $160/month which covers everything exterior of the home (landscaping, insurance, etc).Goals-I completely understand that it won't cash flow, but my brother is pretty much a 2-4 year guaranteed renter of 1 room.

I second @Nathan G. completely - if you have an experienced agent representing you, you will be much better of. 

I completed my first deal in 2016 in Eustis and then in 2017, I bought two more in Leesburg.

Again I will be talking to a lawyer I just don't want to look like a complete idiot when I go in. 

I love this kind of stuff.My wife and I invest out of state with Vacation Rentals, primarily Airbnb.

In order to complete an exchange with full tax deferral you need to do two things - Purchase at least as much as your net sale (the contract price minus closing costs as @Mark Creason said). 

And I'd also like to make sure that he does a complete and full exchange. 

One asset becomes a complete loss on vacancy and the other simply lessens cash flow.As for the rug rats, I wouldn’t know.

Not sure about the dimensions, but complete work could take 2 to 4 days depending on the help you get and you may bring down the cost to a half or even less.  

Having completed 10 or so flips, I can assure you that you will overrun your cost and time estimate.