How to get out of Cashout Refi Purgatory? - any ideas

[Rob Glover]

Hello BP,

 First timer here, and trying to use Delayed Financing loan to refinance an rental property I just picked up (cash purchase). The issue I am having is that some of the funds came from my wife's account, not joint account. This seems like a automatic dis-qualifier for using Delayed Financing for investment property.

(I spoke with a few lenders prior to the purchase regarding the Delayed Financing loan, but I never discussed with him this key bit of information.)

I'm working with the lender, but I have zero experience except for what I've read in REI books and on BP.

Any advice would be greatly appreciated?

We had planned on using the cash back for the down payment on our Primary Residence, but I don't know when I'll be seeing those funds again...

Had I known then what I know now, I will get my finances straightened out BEFORE I purchase next time.

Property info:

Turnkey SFR in Indianapolis, tenant and property management in place

 Purchase price : 36,500 paid cash

 Rent: 675 / mo