Rental occupancy in the city is 99.5% and rents are steadily increasing.I have a 625k 30 yr VA loan @ 4.25% with zero down and zero funding fee.I am selling a rental property with 300k equity which I will put toward the new property via 1031exchange and restructure the loan @ 4% either before or shortly after the deal closes.  

I need to restructure everything or rewrite contracts and get them to sign

They owe $95k on 1st MTG and another $25k on a 2nd that was placed on the property when they went through a debt re-structuring program.

Some very big ORegon names had to totally restructure..

Why put yourself in a predicament where you are going to have to restructure your investment some time later in the future? 

Are you planning on restructuring the existing layout into a more open functional space to add value?

If you cannot pull out enough cash to pay him back the full amount restructure the note and see if he will be willing to be in the second position.

@David Renfro We are executing a major expansion of our park in San Antonio, which includes utility build-out and major restructuring of the home site configuration.

By way of background I am a corporate refugee who has been laid off for the 3rd time since 2008 due to business restructuring or M&A.

Since a debtor usually is on an allowance of sorts, debts restructured with a wage earner, they won't have a down payment in most cases but they can seek assistance from family for example.