Most deals I work, I find that the most inexperienced party in a real estate transaction will end up losing 4-10% of the value of the home in the transaction because they don't know what they are doing. 

Quote from @Dawn Roy: My response is not relevant to this transaction as it appears everything is going to work out with your lender. 

When you learn to partner with professionals who are well-versed in this segment, most distressed property transactions are quite straightforward.Myth 5: Distressed Properties Are Not Obtainable with FinancingThere is this perception that distressed properties are cash-type deals.

I own two Versity/Crew properties and have similar frustrations and experiences with them AND the broker/dealers who handled my transactions.

Couple this with the "Cash Distributions from Capital Transactions" clause and you begin to see the real problem.

I would absolutely use an attorney to facilitate this type of transaction.

The QI will facilitate the transaction by holding the proceeds from the sale of your New Jersey property and using them to acquire the replacement properties in Florida.Make sure to follow the 1031 exchange timelines: you must identify potential replacement properties within 45 days of selling your New Jersey property and complete the acquisition of the replacement properties within 180 days.  

Make sure every dime is deposited into the trust account.Private lending, like syndication investing, doesn’t involve many transactions.

I will probably wait until the loan is finalized to do anything to be on the safe side regardless this time.

Do they require payment on site or do they give you a certain number of days to close the transaction?