If you only have 25% equity in the other property and no cash, then that probably will not work as its too risky for the lender unless you also have other properties to secure it with.

For this deal, my mother and I secured financing through a Debt Service Coverage Ratio (DSCR) loan, which allowed us to borrow based on the rental income potential of the property.

Second example: I purchased a first lien note secured by a very run down shopping center in which the principal balance was $470,000 - I paid $255,000 for the note.  

It's the same thing from a dollar perspective as it's just the accounting classification of funds, but since they applied the security deposit to the rent they also took part of the security deposit as late fees for themselves which just feels wrong since they didn't actually get the rent, but just applied the security deposit. 

A double security deposit can. 

I'm actively purchasing multiple properties and would like to leverage hard money loans with terms typically ranging from 1.5 to 2 years.My primary focus is on securing financing that aligns with my investment goals while ensuring that the rates and terms are the most favorable.

I was able to to secure a loan. 

Plan is so that he can retire and him and my Mom can be financially secure on rental income while my sister and I manage the properties in the trust. 

Regarding security with buying the property, I can't say I'm too worried about that.

His comment on costs was $4k-$6k but I have no idea what that includes and I think it was a guess having no foreclosure experience in AL.Do you have any good web sites I can read about the process or anything else not immediately obvious?