So that's a pretty awesome parting gift from you to them.And in the meantime you can either refi like @Bob E. was saying. 

Hi @Antonie E Fields!

You need to follow what the tax law says about the treatment of what you expense against the rental on schedule E vs. what you capitalize and gets netted into your ST gain on this sale. 

I feel like she's the road runner and you're Wile E.

For a new bank that I had never dealt with before - they required Two years of taxes including schedule E’s, rent rolls for all properties , 3 months of bank statements as they want to make sure you have the cash to cover N number of months payments,  and personal financial statement.

@Lynnette E.

You shouldn't have an option for COGS on schedule E for rentals. 

E-Myth series by Michael Gerber. 

@Dave E. - Agreed, and I believe that it also depends on where you are in your investing career. 

Originally posted by @Lynnette E.