Funding Questions for Fix and flips

[Ronald Logan]

Hi Folks, I actually have two questions:

1 - Are there any HMLs that do not require you to be a Company (LLC, C Corp, etc) to put up funds for a flip?

2 - I am buying flips and will be using HML to most of the funds (85/100/80) and would be looking for private investors to put up some funds for the difference that I am not getting from the HML and also the carrying costs. (I typically est. 6 months.) My return would be 10% interest at the close of the selling portion of the project. The question is: should I expect the investors to want to be a lien on the property (would need to be the 2nd behind the HML) and if so, are there HMLs that will allow the 2nd lien on the same property?

Thanks in Advance,

Ronald Logan