In his world of trite clichés (don't work for money; let money work for you....buy low, sell high....work for yourself, not someone else; own assets, not liabilities, etc), there is always a story from a person who has a first name and a last initial whom you and I could never contact to verify that A) said story actually happened and B) how hard they had to work on their own to make it happen.So, I would not trust him with anything unless I personally vetted the details IN DETAIL. 

If that is something you plan to do, just make sure that you verify that it's allowed.

The building is fully leased and has positive cash flows of about $5,000 a month according to him (I need to verify that with his records).He did a cash out refi on about $300k a couple years ago so the mortgage is still close to that, let’s say $290k.The issue with a 1031 exchange would be that he doesn’t have any additional cash laying around, so even if the sales price was $290k, that would go directly to the mortgage payoff and he would have $0 to move into a new property.

So, select the lender based on their verified 203k experience and use a contractor with the designation as a Certified 203k Contractor - 203kContractors.com.  

I have also verified that they have enough space in the current location to grow their practice.The numbers work out for me. 

You can go on Zillow and look at my profile under previous sales and you can verify this information. 

About us: My partner and I have excellent credit (~800), <1% debt-to-income, stable and verifiable employment for the last 5 years, never declared bankruptcy.

@Tyler Waltenbaugh I think you have to move into your primary within six months of closing the loan (verify with your lender).

Things like criminal reports, verifying former landlords, and verifying income are crucial and fair housing compliant.

Computers and technology sometimes become wildly unpredictable, and if you’re smart you still make sure they do exactly what they were programmed for and never forget the importance of trust and verify.