You contract should have dealt with credits for the security deposits.

For example, a home equity line of credit (HELOC) might offer a more flexible solution to fund the repair without the commitment of a second mortgage.

Additionally, we may include clauses allowing for mortgage assignability and a balloon payment extension if the property fails to appraise for a specified price upon balloon expiration.Find below the 3 single-family seller finance deals that have done so far. 1st Deal breakdown: Purchase price: $330,000 Loan amount: $305,000Monthly payment (P&I): $1,181.55/mo40-year amortization at 3.5% interest rate20-year balloon paymentMarket Rent: $2,100/mo__________________________________________2nd Deal breakdown: Purchase price: $200,000Loan amount: $175,000Monthly payment to seller: $500/mo0% interest rate 7-year balloon Currently rented month-to-month for $1,200.Market rent: $1,750/mo__________________________________________3rd Deal breakdown: Purchase price: $175,000Loan amount: $160,000Monthly payment to seller: $437.50/mo0% interest rate 7-year balloon Currently rented month-to-month for $1,400.Market rent: $1,500/moFeel free to reach out if you have any questions!

2014The plan: Fix credit (destroyed from divorce and stupidity of a youth misspent).

@Spencer Speckles,  there are additional complications if you try to carry back a note while performing a 1031 exchange. 

I also like to purchase options.I'm just confused by your language of wrap around and down payment in addition to option fee.  

The 60%  will give you the best possible financing terms and assuming good credit still give you enough cash flow to cover routine maintenance/vacancies with a payment around 1100~ a month. 

This means an additional $200 per policy on top of what I already pay . 

Take a line of credit on my primary home and buy a property outright?

Cash flow makes the journey easier and gives you the returns you are looking for quicker but it will take years for your cash flow to produce enough excess to purchase additional assets.