Financing Advice

[Jeff Adema]

Would love anyone's feedback on the following scenario:

My wife and I own a few single family home rentals. We plan on selling one and doing a 1031 for about $70K equity from one of those homes and utilizing that to fund our undivided interest in a TIC. We are in the process of collaborating on a joint venture with a like minded individual to pool funds together to explore opportunities in the multi-family space.

Through conversations with local attorneys as well as professionals / investors on Bigger Pockets we've decided on having the TIC owned by 2 separate single member disregarded entity LLC's with a joint venture agreement dictating the arrangement between the 2 LLC's. As long as we abide by the 1031 rules we shouldn't have an issue deferring the gain.

My question / concern comes down to finding a lender who is comfortable in lending in such a scenario. Does anyone have any experience / success / tips in narrowing down the search for lenders who might be open to this?

Appreciate any thoughts you might have.