In this loan, we had a seasoned developer that had a 1031 exchange and purchased a single-family residence all cash in his company name. In addition, our client had a very complicated income structure and we needed to use one of our alternative programs that uses tax returns and profit and loss statements. The property was in poor condition and needed attention. We were able to qualify the loan, structure the income, and allow the borrower to fix a few things around the property to make the property acceptable. We closed the loan and got the borrower his full cash-out within 30 days of his original purchase date.