However, life can get complicated, and if you find yourself needing more time to gather your documents and complete your tax return, there’s an option available: filing for an extension.Understanding the Extension ProcessTaxpayers who require extra time to file must submit a request for an extension by April 18.

He's offered it to me on a lease-option agreement, with a "purchase price" of $1.2M, "down payment" of $200k and 5% interest only payments on the $1M debt.

Rates have limited my options over the past year, but now I have to find a solution asap that makes sense .

I wanted to vet all Exit strategies possible to know what options would best fit. 

One consideration is to always check the Clue report with your insurance agent during the option period to see insurance costs and potential coverage and past claims.  

I found out that the seller is very motivated and is offering ALL types of creative financing options with rates as low as 3.75%.

My question is if i purchase the property as seller finance and there is a promissory note what are my options for loans on the new construction?

@Bruce Woodruff had a dog house, I had a cat house...27 cats, the owner walked away to another house up the street, leaving dishes on the kitchen table and all furniture.

When you're looking for possible 1031 replacement options, remember that you have a very wide net of potential assets to reinvest in. 

Our required contracts include spelled out options on how a seller will pay a commissions and how the listing agent will (or will not) split that money with a buyer's agent.