To be perfectly honest, trying to use artwork as collateral is going to be a on-off, can't really systematize something as wonky as that.If you wanted me to run it past an underwriter, I'm sure they would want a recent appraisal, done by an appraiser licensed by whatever certifying body licenses artwork appraisers.

It was rented to Fit Body Boot Camp and the guy was not able to pay since day 1 that we took over. 

And if X = 2 than why would you take such a note but if x=10 you have time do react (keep in mind that economy could be not in your favor when you have to pay the  note back)

I'm so sorry that you are having to learn on behalf of the property management bodies in the area your properties area located in;  it's like teaching an attorney how to do law!

I'm not sure who mentioned it above, but best-practices may be a better way to  put what you are asking, but I highly doubt you will find any agreement on what's needed and most would say the best practices are really tips for investors, not the companies.So many companies operate so differently and there is little incentive to change what they do or how they do it as long as the buying public is reacting to their offer.  

It is a 1% rule, that you through out a crazy low number, 1% will react with a High counter offer.

There's a lot more to lending than just finding a warm body and a deal. 

Hi All,I'm wondering if anyone has used the Acts, REACT, CATS course offered by Jon and Stephanie Ianotti.

I've dealt with pimps, prostitutes, drug overdoses, venomous pet snakes, theft of service, dead bodies, break ins, walking in on an intruder, etc. 

There really is no downside, the only reason I've heard for people not getting licensed is that they don't want to have a governing body to answer to.