You will likely spend $1,000 - $2,000 on a set of documents, including note, mortgage, PG, pledge of leases, affidavit/statement of business purpose/use, and closing instruction letter from an attorney.

Forms mentioned (from BP's The Book About Managing Rental Properties):Application Process & Qualification Standards Form (pg. 294 or online)Rental Application Form (pg. 296)

Two common strategies for funding flips are hard money loans and business credit card stacking (using your personal credit to PG high-limit business credit cards).

GC is willing to PG.

And yes, many lenders require a personal guarantee (PG) on business loans, meaning your personal credit could be at risk if the business defaults.

My only question is if we can slot the new 1031 property into the sold property child llc bank account, or if it's wiser to open a new child bank account under parent llc for each new property purchased. 

To spend a few bucks randomly is similar to trying to sell homemade soap going against P & G by buying 2 time slots at 3 AM on the local free access channel.   

Also they may want a PG from you as the sponsor, so are you willing to put everything on the line?

From an underwriting perspective, I wouldnt do this without a PG and a solid workup on the members/operators to understand who they are and their background.

On your bill, you'll see on pg. 2 if it's estimated or actual.