You asked about doing a 1031 of “your portion”. 

If you wanted to fund a portion of the down payment would you suggest a hard money lender, personal loan, etc.?

Purchase price: $4,100,000 Cash invested: $2,000,000 79 unit value add apartment complex with roughly 800k in cap ex completed What made you interested in investing in this type of deal?

Basement square footage is valued MUCH less.

Hello All, I have a client asking if they could buy a portfolio of 5 properties (at a "packaged deal" rate) and sell off two of them to recoup some of the initial down money needed to buy them. I haven't done anything...

The estimated value  now (roughly) is $200K. 

You are adding value in exchange of what?

During this renovation period would you, as the lender, want an Actual Cash Value or Full Repair Cost policy in place?

For a long term hold, time and my value add will create my spread. 

Keep track of 3 buckets.1) Owner occupied portion - potential deductions for schedule A2) Tenant occupied portion - potential deductions for schedule E3) Jointly occupied portion - likely prorated for both schedules.There are nuances to this, so I recommend looking for a tax pro who can coach you on this.