About a year ago my contractor friend and I decided to pull the trigger.

I would just add that if there is no mortgagee or lender in the picture, you should be able to simply deed the property from yourself to your entity via quitclaim deed without fear of triggering any type of due on sale provision that would otherwise be contained in a mortgage.  

I think what your broker means regarding violating the terms of your loan is that when you "move" it under an LLC you could trigger the due on sale clause of your mortgage because the property's title/deed is no longer in your name.Umbrella insurance just adds additional liability coverage above and beyond what your normal home and auto insurance would cover.

Anti-flip overlays are actually very common, especially for jumbo loan amounts, but also retail banks.The ambiguity associated with "once reviewed by our quality review department will indicate if the property is truly a flip and how we proceed" & the fact that it could simply trigger a "loan denied" for reasons unclear to you is always the price paid for accepting an offer from a buyer using a big bank.You can try starting over with a new buyer or a new lender, if you like.

Is it purely local, such as convenience stores, laundromats, dry cleaners, or something wider, such as Supermarket, hardware store, paint store.2.

Always keep your mind working on these deals, they are not cut and dry like conventional loans.

You beat this problem using a 1031 anytime your criteria is triggered for the sell.

I thought I should toss in a few other 1031 pointers for you if you're thinking of using this tax deferral mechanism.Firstly, bear in mind that in addition to your intent being paramount, you also would need to meet several important deadlines and requirements to execute a 1031, so it isn't something you could just pull the trigger on quickly.

Probably break even with $700k down....Not sure all the strings with historical building... that is probably one biggest reason I have not pulled the trigger here... could be s ton of limitations right?

At some point you are just going to have to learn to trust your analysis and pull the trigger.