Junior ADUs don't have their own address, the owner must live somewhere on the property, and may be less expensive to convert. 

This is often referred to as a HUD partial claim.There may be differences here and there with respect to the MI issue but a junior lien is a junior lien and it gets extinguished in a foreclosure regardless of the players involved.

The junior investor brought 30% and I ran the deal How did you add value to the deal?

We've been eyeballing a place to put our junior in college but we don't have the income and down payment to buy a 2nd home outright or the 20% to do it as commercial. 

I have found time is better spent building tools to quickly analyze & procure new deals, rather than hyper-analyzing the metrics of one deal, ultimately making initial review faster & more reliable (spend time on the things that make sense, quickly remove things that don't, even junior-level staff can identify good opportunities with the tools, etc).For example, if I'm modeling a SFR to 3-4 unit scheme, I can quickly check the $/sf/mo for each of my proposed units and get a good idea of the GOI without having to manually dig through &  find rent comps in that City/Zip:- So instantly I know in Woodland Hills that a Studio is close to $5/sf/mo on avg, 1 Bedroom closer to $4/sf/mo, with the 2 & 3 Bedrooms closer to $3/sf/mo.

I got a text message from Junior at CIX yesterday inquiring about my interests, so I called him back, asked how much the program actually cost, he said $297 & $37/month for the Dog Deal....I asked if it could be paid over time....No....OK....Today, Junior just called me back and offered me the same entire program....Really Flip for $197 until Friday midnight 8/24....Hmmmmm   I was seriously considering it until I started looking for reviews and came across this site...NO THANKS.....I've found more valuable information on this forum itself that I can check into...I already know and was working with a local investor and he doesn't use anyone's $$....offers the buyer a little earnest $$ and has him sign a 30/60 day contract to purchase the property & goes out in that time to locate a buyer & takes the seller & buyer to the closing and walks away with his part of the profits....Buyer and Seller never get to meet one another....Biggest problem is finding the good deals...there are signs on every street corner, "I Buy Houses"....

A fully informed seller can enforce this via a junior lien. 

The broker exemption includes loans secured by real property in the form of promissory notes secured by deeds of trust.The only limits on the fees or points that can be charged on a broker exempt loan are if the first deed loan is less than $20,000, or a junior loan is less than $10,000.

If the HOA lien is junior to the mortgage lien, it will extinguish at the sale.

The reason I ask is because we have a mortgage banker right now who seems a little junior and didnt know if my friend and I can apply together as it seems like one of us alone would not work for the bank.