That will help you remove what’s left on credit and make room to use portfolio/standard or DSCR.When you are not using a local bank or credit union you are going to have to pay the typical origination fee's or points.

Originally posted by @Geo Tan:Thanks for the fast responses  @Jeff B.

Is there any requirements on where the funds from the proceeds of the original sale are supposed to be placed?

Regarding the 1031, so let's say I put 5% on the new primary residence ($900k, so $45k-ish), and rented the original (former primary residence), I would have to wait 12 months before I could do a 1031? 

Originally posted by @Bob E.

I received an update from my accountant and it seems the timeline of events did provided some clarification and reduced my taxes by $6k from the original $16k. 

The property had a main house that was in livable condition, but mostly original from 1986.

Once fully satisfied, the split becomes 50/50.When accessing this deal, here’s what went through my mind:A PMP would have to be okay with holding their funds long-termThe borrower would need to be experienced with doing wraps, as it takes time to get willing and able buyerThe borrower would need experience in pivoting to a different exit strategy should they fail to successfully execute a wrapWith NO EQUITY on the property originally, and the PMP being in second position, the borrower would likely need to cross-collateralize if the PMP has NO INTEREST in taking over the propertyMy conclusion, from looking at this from a thoroughly analytical standpoint, would be only someone who has a moderate to high risk tolerance and cares about cash flow without pulling out and parking their money into numerous deals would likely lend on this.Anyways, thoughts anyone?

Recently though I have come across a major FLAW in their system, which I honestly cannot believe exists: When a payment series ends, the system archives the series on the day it ends.

Additionally, I wasn't able to get the original rent amount I estimated, so that had an impact on the deal.