I don't want the surprise of an adjustable HELOC biting me later. 

Without that proof of funds, there was never really a tender.Bottom line, if the taxpayer misses the deadline and later argues you should have given them longer to redeem, you should fight back by saying they never made a legal tender and your grace period was only a courtesy. 

Without that proof of funds, there was never really a tender.Bottom line, if the taxpayer misses the deadline and later argues you should have given them longer to redeem, you should fight back by saying they never made a legal tender and your grace period was only a courtesy.

Then out of nowhere TWO MONTHS LATER they show up on Jan 2nd from their lawyer stating that "my client is ready to close by Jan 5th for a credit of $20,000 and my client believes the contract is still open and valid and my client has reinspected the property and is satisfied with the condition." 

Many tenants will ask for a discount, you accept because it's "easy money," then they leave three months later and you have to refund whatever's left.

Well, almost 4 weeks later I had to insist on an update and according to my contractor, this individual did actually visit my property, but for a myriad of reasons was hard to get a hold of/not doing his job, and we experienced weeks of delays for this.

The 1031 exchange would require us to identify both properties within 45 days though, and we aren’t sure if we’re up for that… We could possibly use the full 60k, then cash out refi later?

What I later found out was that (One: the bank does not count the projected rental income as part of your income.

Sometime later in the conversation you ask the mirror question of what is your average occupancy each month.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.