The formal rule to this (and not every lender will do this - so your current lender may not do this at all) is that on a single family, investment property you can a loan of either your purchase price + closing costs (at the time of purchase) or 75% of the After Repair Value - whichever is LOWER.  

@Brian Winters, Semi Random thoughts and some answers for you.The county will do formal arrangement to pay back taxes.

In both cases, syndication would be needed with a securities attorney.Here is the list of promissory notes recognized by the Supreme Court as NOT being securities is a compilation of nearly random examples:Notes delivered in consumer financing.Notes secured by a mortgage on a home.Short-term notes secured by a lien on a small business or some of its assets.Notes evidencing a “character” loan to a bank customer.Short-term notes secured by an assignment of accounts receivable.Notes that formalize an open-account indebtedness incurred in the ordinary course of business.Notes given in connection with loans by a commercial bank to a business for current operations.And the determining factors for how a court will judge it to be a security or not are :Whether the borrower’s motivation is to raise money for general business use, and whether the lender’s motivation is to make a profit, including interest.Whether the borrower’s plan of distribution of the note(s) resembles the plan of distribution of a security.Whether the investing public reasonably expects that the note is a security.Whether there is a regulatory scheme that protects the investor other than the securities laws (e.g., notes subject to certain banking regulations).Again, consult an attorney.

Many times this is the case because people are taught to buy a note in a fast foreclosure non judicial state near a metropolitan area with a 3 br home where rents are more than the mortgage.

Hi everyone,I bought a house about 3 months ago and I am house hacking with family members so there is no contract or any formal documents.

Presumably I'm looking for a non-judicial state without any licensing requirements. 

I've removed hundreds of tenants over the years without using the formal eviction process and there are a lot of different methods.Ask.

And they also are not 'open concept' but have small parlors and formal dining rooms, etc. 

I see people all the time talk about chasing the fire within and that's what I'm trying to do but don't quite know where to get started in an industry I don't have much formal training in.

Typically a home inspector might charge $400 to inspect a house, but that's because they spend several hours putting together an inspection report.Tarl said to keep the costs down, he told the inspector he didn't need the formal inspection report.