5) Are there anyother concerns / pitfalls I should watch out for as I enter thisprocess aside from the 1031 timing considerations?

Keep in mind that many lenders require a seasoning period (the most common period is 3-6 months). 

@William Merone common structures are 80/20 - 70/30 (investor/sponsor) splits with 6-8% preferred returns for investors (investors have to make this annual return before profits are shared with the sponsor.

Know what's the common practice for the area you're buying in.

A common strategy if you were to find it would be to wrap the loan, walk with a downpayment and have some positive cash flow every month as well.

Hey @Steve TotinoI think you are suffering from a common case of lack of direction.

Is this something common?

  - Keep commonly bunched forms in folders on a service like Dropbox or Google Drive. 

The surveyor made an error (although this is definitely not as common). 

They do take foreclosures now and then, but I think it is not all that common and not if someone else has purchased them.