typically no special license is needed when doing it for hard money loans that I am aware of. there may be states like california and nevada that are tricky where lenders need a license of some sort but for most part brokers i have seen are not licensed. 14 or 15 states require state license and NMLS registration.

Option 1: The loan that the owner has is an assumable loan at a 3.875% rate and still has about $265K.

Are you looking for better loan terms from the lender?

Once construction is complete you could refinance out of the construction loan into a DSCR loan.

You would need to let them know you are 2nd lender and want to pay the loan off.

Start by talking to a bank/loan officer to see how much you can borrow. 

(Insurance, Loans, Zoning, STR, ADU's, ??

FHA loan through my mortgage broker associates.

So when the bank requires insurance for the loan amount.. that will work generally.. 

Quote from @Arshiya Taami: I am planning on purchasing a profitable business with its real estate included in florida and the dscr is 1.85. the problem is im just short of 600k for the down payment. that being said, can anyone provide me any reputable loan companies that will offer bridge loans and what their requirements are. thank you in advance!