However, it's my understanding I can't just purchase the 4plex now as I normally would, I need the intermediary in place at time of the 4plex offer / purchase, right?

Normally they just mail the release.

Is this just saying if normal improvements were made the total is what it "could" sell for?

It's just different from someone just being a normal tenant.

The response I got was "We do have one available, but it's one long unreadable line" Is this normal?

If you have a lot of foreclosures for example, the remaining owners have to make up more than their normal fair share.

Are there alternative low-risk ways to fulfill the 1031 exchange requirements with so little time left to evaluate properties normally?

If you wanted to buy a computer and someone offered you one that was broken for 1/3 of fully functional price, or someone offered a working one at normal price, what would you do?

I would not recommend hard money for your first few deals because you may get hosed by the costs of financing if you take too long or if you are over budget which are normal problems for younger in their career investors.

Normally a breakfast meeting and the goal is building each other's business.