You might just have an inexperienced loan officer (I've run into many of them) or a lending firm who has tighter policies. 

Playing with a multi-million dollar wholesale deal as an unlicensed, inexperienced wholesaler is asking for trouble.

Sounds like all of you are inexperienced.

Each lender has different requirements and ways that they mitigate risk with an inexperienced borrower so there is no real way to answer if you have a deal they would do or not because each will be different.

@Donovan Haynes If you are able to walk through the property before getting it under contract (recommend doing this if your inexperienced) then have a contractor (or someone with more experience) walk the property with you to get an idea of what the property needs and ballpark estimates.

Right now I’m leaning towards the 1031 exchange but that’s just because as an inexperienced investor I believe it’s the “safer” option. 

You might pay more for a premium buyers broker with extensive knowledge but lose way more 500k or 1 million on your purchase getting a bad analysis from an inexperienced broker or agent.The buyer broker will often ask the listing broker what the 50/50 co-op is on the deal?

Because as an inexperienced investor, this is your first ever real estate investment after all.

Now, I survive with the help of cotton in my ear, hot teas on my throat, and gardening books after work.  

I have read several real estate investing books and listen to a lot of bigger pockets podcasts but am still new and fairly inexperienced to real estate investing and realize that taking action is the key.