@Lauren SpeidelYou are correct Lauren you cannot do a 1031 exchange but you can do the following:1) opportunity zone deferral Or2) pay just 15% tax on your net gain and take the rest of the money to invest it in Puerto Rico it anywhere else There are many ways to avoid or defer capital gain taxes but people know only 1031 exchanges rules because that’s what brokers promote to double dip on commissions

Money partner would provide all the capital, and I would do all of the work (not the actual flipping work, we will use contractors).Now, he's decided against using all cash and would instead like to contribute $50k to the deal and finance the rest with debt.

I only have one tenant who is awesome with checks, the rest all have had their month, almost always on time but every month someone is  in the grace period.

I saw up front that they somehow had to use the rest of the income somehow.BUT saying all that,,,I also see the other side that THIS program forces the issue and does what 'most' all borrowers dont do.

Should I refi in 4 months (or pull out the rest of the equity with a second) to pay off most or all of my heloc?

I am sure their WCAP program would be of the same quality as the rest of their service offering. 

I would leave the rest of the jug with them and tell them they need to re-apply every 3-6 months or as needed.

Deals have two components:  The lowest possible cost to the REI (Down Payment); The Terms designed where someone/some thing else pays of the rest.

And the rest of the EU and the banks brought the country to its knees and forced that bailout and the social havoc that has since followed down the Greeks' throats.

Most of the deals are done "off market" and like they say"the good ones are taken, the rest are handicapped".Hope this helps.