Converting properties to multi-family is considered extensive rehab and those programs are a little more exclusive than the standard bridge loan programs. 

Are you able to get an extension on closing to support the timeframe of lender B?

Our strategy is to buy out of shape properties and rehab them back into shape, so a GC with experience in doing extensive renovations at once would be preferred.

Most property management companies are licensed realtors with extensive experience working with investors and providing valuable insights into their local market. 

I never used a tax pro because extensions are so common. 

If you find you are unable to raise the money for an all-cash purchase, switching gears to Fannie will only work if you have a LONG time to close in your PSA or have many extension options (which usually require more hard earnest money.)

since purchasing the property with a 10% down portfolio loan through a local bank, I have done extensive repair work and renovations.

Louis, even buying a property for $2k might be overpaying for it ;-) These properties always need some sort of extensive/gut rehab, so they are not for the faint of heart (or stomach)!

They have failed to renew my entities with the Secretaries of State multiple times, have billed me wrong amounts, and GREATEST OF ALL, have cost my business ~$50K in cumulative TAX PENALTIES due to negligence in filing for a tax extension, failing to walk me through my tax filings and needed payments, and failing to file an abatement promptly.

By identifying the right buyer within our network and streamlining the transaction process, we added value without requiring extensive renovations.