I haven't done a 1031 exchange, but may in the near future and the small amount of research I have done on it seems to indicate that some qualified intermediaries only do the intermediary task (hold your money while you close on the new deal) and some try to do other tasks as well, like facilitate you finding the next deal, etc. 

You would want to find a private money partner for this who wants in on the deal.

Get that money working harder for you. - If you rent it two more years you lose the homeowner capital gains exemption. 

@Trent GulinoI agree with @Katie Smith about considering a hard money lender.

I'm pointing it out because there is no way a channel of your size is worth anywhere near the money you say you were offered.Actually, likely quite a bit more, if you value it based on a GCI multiple.

It's a great way to increase your net worth and these loans can also be used to pull cash out of a property as it appreciates allowing you to reinvest money into new deals.Happy to connect to discuss further. 

If the property fails to meet our criteria, we're out of that money and must move on to the next project.

Being able to enter a property with only 5% down means you can leverage your money way more effectively as well.

Quote from @Raj Vardhan: Hello,I am new to the entire refi process and looking for some direction here:I purchased a foreclosed property 2 months ago using hard money and close to finishing the renovation.

For me I invest my SDIRA money in debt investments which typically are ordinary income when using w2 income and use my hard earned cash to buy properties.