My son will be leading this effort (it will be the second effort he has led.

You do lead me to a point of maybe I should investigate their financial stability a bit more.The guy with the 4 plex I talked to WAS thinking about taking the $120k.

You aren't buying the property but you need to value it for collateral purposes as it can become the means by which you get your money back.You need to know RE valuations as well as the best Realtor you've ever met.

Thank you for this additional lead. 

Access to Larger Loan Amounts: Cross collateralization allows borrowers to leverage multiple properties, which can lead to a higher overall loan amount than what might be possible with a single property.2.

This leads you to a decision, whether you are aiming to be a passive investor or an active investor.

The problem is, airbnb income is not considered "stable" so for qualifying purposes there isn't a way to project that accurately if there isn't any previous rental history for the property. 

Some I found out the purpose from neighbors, others I just plain didn't want to know.Yes, I removed them during the reno, not sure how many new buyers would find that an asset...?

., but also fortunate that your borrower didn’t contest your business-purpose loan as being for a consumer purpose.

Quote from @Adam Bartomeo: Quote from @Jay Hinrichs: U also are fighting all the investor who flooded int to build new homes for rental purposes so OVER supply.. and we know a ton of those got stuck with bad builders and are being worked out so supply is going to keep coming in ..