I'm either finding them in tertiary markets that have semi-decent un-leveraged cashflow but low-appreciation potential, or low cashflow in higher appreciation-potential areas. 2.

So far the sketchiest, but most appealing to me, are the non-accredited syndications in the unsecured business debt arena.

I commented on another post recently where the website says "secured mortgages" which is what the sponsor invests in, but when you read the fine print your investment is unsecured.

Alternatively, you could open unsecured business credit lines and cards to tap for short-term use to cover down payments and closing costs (there's a company that specializes in helping real estate investors do this).

Between hard money, HELOCs, cash outs, unsecured and secured loans, you should pick whichever gives you the rate and flexibility to get the next project done.

Most of these cases are just large safety issues often resulting in the building be unsecured in the past.  

So you are offering the seller an unsecured position...

So you don’t want to touch unsecured money.

Then last option would be a "unsecured" personal loan where the bank offers up to $50K for example to pay off and consolidate debts.The 2nd and the personal loan will pay off debts and lower DTI and you might have enough left over for down payment or just use VA again.

So long as you mean your name will be on the note and the mortgage at a sensible LTV, with proper lenders title, fire, and liability insurance, and so on, then you have safe and direct recourse to the property.If by “invest” you mean a membership participation in an LLC of some sort that flips or “stabilizes” the property, then you are completely unsecured with no recourse to anything.