. :-))But yes, I could take a $200k or $300k tax free loan every year on the appreciation if I couldn’t manage to make ends meet at $20k/mo.

The current lender refuses to do a loan assumption. 

Most mortgage companies will not call loan due if payments are current but you do run that risk and need to be prepared to payoff or refi at a moments notice.

So we retired the sellers loan within 12 to 18 months.

What is the minimum amount of profitability acceptable at a $60 million loan volume4.

If it's on your credit, you are on the hook for it.However, it shouldn't effect the loan process too much, a simple Letter Of Explanation should be able to get the job done with the correct investor. 

In response to your original question, closing agents should handle private loans just like a bank loan. 

There are likely work arounds and you will need to discuss with a loan officer.

100% VA loan, which allowed me to put money saved towards renovations.How did you add value to the deal?

The caveat is that until the loan is paid back, you must put it in LT rental at capped rents.