Rehab will be required.- you may need to look outside of Phx to markets like Gilbert/Mesa or even Tucson.  

The lender required that the property be tenant occupied/cash flowing.

I’m hoping to not build until I acquire more revenue from profits of the plot via flea market, parking, boat parking, or something else that requires minimal investment.

.: I would reply to his threat of going legal with the final punchlist you're requiring to release final payment.

In your scenario, selling the relinquished property for $450K after completing a reverse 1031 exchange will allow those proceeds to repay the intermediary without triggering capital gains taxes, provided all exchange requirements are met.

If you have a finished product, they won't move in for 60 days but your lender requires signed lease and/or move-in for refi...this will delay your refi.

For traditional loans that rely on personal income and DTI (Conv, govt), there is no requirement that the properties be profitable.

This is a complex question, that requires answers with exceptions, caveats, and explanations, but here are rough examples:A.

However, understanding their requirements—such as down payment percentages, reserve requirements, and loan-to-value ratios—is key to getting approved.One of the biggest advantages of working with portfolio lenders is their ability to fund deals that traditional banks might pass on.

It means that your 2nd required stay can straddle the new year, and it still counts!