@Robert Cabral If the one person is qualifying for the mortgage, what are the other two bringing to the table? 

Unfortunately for myself renting out rooms is not on the table at this time.

However, I would not recommend buying something that didn't at least have some cashflow on the table.

I am on out of state investor and have a deal on the table that I'd like a little more information on how the market is, etc.

Or are the buyers having to bring more cash to the table to refi?

So you will only have to bring 10% to 15% of the purchase to the table.

And use maximum leverage and minimum down payment on the second.Leaving a 1031 with a free and clear property and a heavily leveraged property is a great opportunity to take some risk off the table. 

Hey Elijah,you bring a lot of valid points and concerns to the table. obviously, as with all investing it is subjective.you need to clearly define what works for you and why your doing it.. with cash-flow being great it will create the ability to look at other opportunities sooner with cash in hand(remember you don't need to do it all yourself) However, on the flip side of the same coin there are several liabilities.

Great Contractors bring 3 things to the table,1-quality of workmanship2-length of time to do completion3-price for work and fast timing.Could write a book about how to pick the GC.I would not talk to one that pulls up in a $50,000 new truck, new GQ clothesand new haircut.I would control the product and have him only give you a labor bid.He needs to pick up your product as he needs it on the job site.This is part of his bid. 

Behind the scenes: As a listing agent, once we have an accepted offer my main focus is getting us to the closing table now.