Currently it is proposed $45K loan paid back over 3 years at 20% interest.

But nothing has been proposed or passed yet to the best of my knowledge.

Proposed pets (size/breeds)4.)

They proposed the following with seller financing: Purchase price of $165K$25K down paymentLoan at 7%, amortized over 30 yearsMonthly payment of $875 (actual payment amortized with these #'s would be around $935)Balloon payment for balance in 5-7 years.My question to the BP community is what do you think of these numbers?

Or do I find the potential deal, run the comps and prepare what I plan to offer, then approach the HML with the proposal, get a letter of intent from the HML (if they like the deal), and then put in my offer to the seller?

Especially if that’s the culture in all local MHP’s in the area.I’ve heard people have success with offering a proposal of having their payment be the same and they own the house in x years - therefore reponsible for repairs and get to be proud homeowners!

If so, is it enough to provide two pro formas: one showing the current rent roll and proposed purchase price and one showing the projected rents upon full rehab?

I find myself in the situation you're proposing.

Business needs to cash flow to cover existing and proposed debt by 1.2-1.3X.

To the best of my knowledge, the fact that you already have the proposed property under contract prior to the sale of the relinquished property does NOT make a difference.Just don't close on the replacement property until AFTER you sell the relinquished property.Here's a link to a great explanation of the identification rules:https://firstexchange.com/content/top-ten-identification-rules-1031-exchangesThe resident 1031 expert on BP is @Dave Foster.