Throughout the renovation process, the lender disperses funds to the contractor in draws once the work is completed and has a third party inspector go and confirm the work is completed with each draw.

I've always let those type of situations be dealt among themselves, and I'd only advise (minimally) as a 3rd party but not as a landlord.

Not to mention that’s a lot of money.Two primary lending rules I go by for the sake of all parties involved:#1 - Put EVERYTHING in writing.#2 - Don't loan money to family/friends unless you're willing to lose both. 

I am in the same boat.

All parties to the exchange must be notified that a 1031 is taking place. 

Welcome to the party sir.

@Snehann KapnadakI am in the same boat.

There also is a section in the PM contract about the "Entire and Binding Agreement" that says that "Parties agree that this Contract expresses the entire agreement between the parties, that there is no other agreement, oral/otherwise, modifying the terms and this Contract is binding on Parties and principals, heirs, personal representatives, successors, and assigns.

I was in a similar boat a few years ago.

Call me a party pooper but I think they're lame and a waste of time.