Hard money How did you add value to the deal?

This delay is costing me money every day as my property remains vacant.Additionally, their application process is extremely tedious and discouraging for prospective tenants.

Short answer - tenant pays.Long answer - landlord pays because tenant has no money to pay that's why they are on section 8.

My family and I currently live in a small podunk town in Iowa, which I truly can't wait to move from, and we rarely come across money like this (we're basically as middle as middle-class can get). 

I'll get most all of my remodel money back out and be left with about 20% of my own money in the house - cash flow will be limited once rented.

Property Purchase : $4.0M 1031 Exchange Money: $1.05MHe has loan approval at 25% down for the commercial property and he will be pretty close to being completely wiped out with attorney fees and other allowed 1031 expenses. 

if it is just the financial side holding you back - let your bank be your partner… or see if you can borrow the money from a family member who knows and trusts you -  without actually partnering with them on the control of the deal itself (pay them interest - or even bring in on the lien to secure their position the first time) - but let them be the finances and you control the project. 

If the owners purchased very recently or invested a bunch of money into the property it will be unlikely they will accept a lower down and an extended repayment period. - Little to no existing debt tied to property.

It happens that the facts in Wake county didn't support my preliminary expectations.

I would take that money and do one of a few things with it:1-Look for a JV partner to do a larger deal with2-Keep learning about the market and investing as a whole and sit on the money until you have enough education to leverage it3-Use the money to set up your real estate business and buy leads & marketing betting on yourself may be the best of the optionsAlso tread lightly around the leave NJ advice places like OH, Baltimore, even parts of South Jersey can be money pits where ripping off out of towers is a cottage industry.