New Wrap Loan with Installment Sale

[Grace Porritt]

I have an Investment Property that I previously did a 1031 exchange on with sizeable gains.  My income recapture (first to pay back), is approximately $45,000.  I have a potential buyer (friend), that will work with me on a Wrap Around Sale.  My goal is to spread out these gains and have a balloon down the road in 5 Years, when my capital gains tax will be lower because of lower income.  Here is the bad news:  I currently have a commercial loan on the property for $137,000  (due in 2 years), 4.3% Interest.  My goal is to start taking out some cash, I am 62 and want to start enjoying my gains!!!

My idea is to refinance and take out new loan for $200,000 (no taxes on the cash out).  Sale price $280,000.  This will give me more flexibility with the structure of the new loan for the Buyer. I will need to find a company that does not have a "pay at sale" clause.  I will hold a second for the balance.  

Does anyone know a mortgage company that is favorable to investors?  What am I missing?  Can anyone suggest a financial planner in colorado to assist with a deal like this?