To be clear, I am not an accountant.  

The tenant pays a monthly premium and keeps an active bank account and credit card on file.

It’s like you bought the properties with a 30 year loan and are putting the rest in to a savings account.

Am I underwriting conservatively, accounting for higher interest rates, inflation, and potential market softening?

Just spoke with a business dev rep from BAM today, good conversation, said theyre not worried about rates right now and have plans in place to account for them. 

I looked into your account,  and it is just as I suspected.

Here are a couple of ways you could structure the deal:Lease Option with Seller Financing: You could lease the property with an option to buy later, allowing you to rehab it while giving the sellers time to find a 1031 replacement property.Seller Financing with Deferred Payment: Structure the seller financing with no immediate payments, allowing you to refinance once the property is appraised, and the sellers can complete the 1031 exchange when ready.Escrow Holdback: Transfer the deed into an escrow account, giving you control without immediate transfer, so the sellers can take their time with the 1031.Third-Party Facilitation: Use a qualified intermediary to hold funds and facilitate the 1031 exchange while you refinance.These options allow flexibility for both you and the sellers.

For example, they may have an account in collections or a short payment history on a recently opened account. 3.

In the long run, Roth-style retirement accounts beat the Traditional retirement accounts.

Tax accountants, investor friendly agents, 1031 exhange experts etc.