Lennar Mortgage which now offers DSCR loans.

This sole property pays my primary home mortgage, allowing me to own two homes using other peoples’ money.  

You're proposing a very complex structure that may be hard for lenders and insurers to understand. 

Is anyone aware of any reputable lenders doing flip and hold lending with reasonable terms?

I’m also talking with different lenders. 

Speaking as a lender (not investor) with some experience in small balance commercial lending, I can tell you that it is likely going to be tough to find financing most likely as a lot of commercial lenders tend to stay away from churches, although could be more favorable if the building is true retail/office rather than a structure built specifically in the style of a traditional church (i.e. hard to transition to other tenants if needed)

To sum up the risks to the seller; the seller remains liable on a note which is secured by real estate they no longer own; the property sale has violated the due on sale clause of the mortgage or deed of trust and the note can be accelerated by the lender; the seller’s credit capacity is impaired because he has debt with no offsetting property equity.  

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

She estimated we could loan up to 500K on a mortgage with 5% down at a 6.8% interest rate. 

Adam,I hear that statment a lot but the key component of this REI game is once you have your mortgage paid down.