It's a 2bd (with a large office as well), 1.5ba upscale unit in great shape, very well-maintained, and very close to bars, restaurants, and transit.

My goal is to generate income since I am closing my business which is my 9-5.

There should be an "entry fee" that you are marketing to the buyers, and that entry fee should include closing costs, down payment to seller and your assignment fee.

The location of the lender doesn't necessarily impact your chances of getting a mortgage or the efficiency of the process however, local lenders have a better understanding of the local real estate market and regulations as they are more familiar with appraisers and other closing professionals in the area which can expedite the process and you will get a more personal touch and easier communication.

At closing the lender will get wired their payoff to close out your remainder and you should get a big check awesome! 

Of course they are surfing close to the edge of bankruptcy so.... 

The best lenders will capitalize interest reserve and finance closing costs.

With borrowing rates as high as they are, it could be difficult to maximize income by 1031 exchanging into a rental that is both (a) financed, and (b) in an urban area where prices may still be close to 2023 peaks. 

A lot of the posts make two really good points: (1) a lot of people are trying to sell their services to newbies, which is completely understandable but can be a train wreck (I almost made a bad choice in 2022 when I was a newbie on the site and trying to get my feet wet).

You can file all the paperwork you want but the odds of getting the money back is close to zero.