Best Financing for rehabbed "rent to own" / lease option property

[Bryan Stell]

Hi Guys, I am underway on a flip with ARV 300k. I bought for 185 and will probably put 60K into the rehab. I hope to have it on the market as a rent-to-own by July. I put 10% into the deal and will finance the entire rehab using my existing home equity line. My uncle financed the rest. Since it was his first deal with me, I am giving him 15% interest with 1 point if I re-finance out of the deal within the first 3 months. So basically he makes a minimum of 6K for being the transactional lender, as he put up 170K so we could close quickly.

I now am at the point where this "rough" property will qualify for a bank loan. I don't want to just sell it immediately as most of my estimated 30K profit will be eaten up by taxes. I want to do a lease option. What would you say is the best way to re-finance this property cheaply as I can't afford to continue paying my uncle 15% I may shop around and go to my uncle with the deals I have lined up and see if he'll beat them, IE now that the property appraises for 300K and has a lease-option tenant, will you continue to finance it at 5-6% instead of having me pay the fee's associated with setting up a mortgage.

The goal is A.) have my uncle continue to lend to me.

B.) Obtain new lending terms on this property as 15% is not sustainable.

C.) Maximize profit over time by avoiding taxes.

Thanks!