@Rodney Dixon  100% leverage is a no no post 08 GFC at least if you want to stay in the businessthe other reason an astute lender in FLA knows that foreclosures there take a year or more and if they are contested multi years. and if you default their only way to get the collateral is to foreclose out the junior lender.you need 100% owner financing in this situationthis is why when owners finance but want a large down it really does not mean anything to the investor who does not have a downpayment.

If you're seller financing, the house is collateral.

Here is some info to get you started:http://flamm.com/illinois-property-tax-lawyers/il-...http://flamm.com/illinois-property-tax-lawyers/rea...http://www.cookcountytreasurer.com/annualtaxsale.a...Don't forget to register and deposit your collateral by the deadline.

Here is some info to get you started:http://flamm.com/illinois-property-tax-lawyers/il-...http://flamm.com/illinois-property-tax-lawyers/rea...http://www.cookcountytreasurer.com/annualtaxsale.a...Don't forget to register and deposit your collateral by the deadline.

Is the LOC secured against only one property or can it be cross-collateralized against the equity in multiple properties?

The small amount of "skin in the game" required by the borrower can usually be made from multiple sources (2nd position gap lenders/private lenders, seller carry back, cross collateral, personal capital, etc).

Although I am able to use that as collateral.  

You may be able to get the construction loan individually and have the LLC pledge the property as collateral for the loan.

Hard money lenders (bridge loans) often like to cross collateralize using the borrowers other assets.  

The whole realm of REI seems to have a such a knack for saturating areas with slight variations in the marketing collateral being pushed out.