Who is your preferred construction lender in North Carolina and yes, looking to connect with more people on the platform and looking to contribute with my time and energy to make this space an outstanding one.

Remember, the seller has to pay off all outstanding debt (mortgages, etc...) connected to the property when they sell it.

For me, ensure the deal is outstanding provide buffer for issues that may arise.

Does your trusted friend have the ability to indemnify you for the money they are holding of yours to the point where their divorce, bankruptcy, outstanding warrant or judgment will not affect your funds?.   

Fast forward 7 days, he failed to communicate in timely manner so today I told him I'd like to terminate the agreement but would like him to consider covering portion of expenses and of course he said no and he will send out a statement with outstanding balance shortly.

Hi Max,Not sure if this helps or not, but can you check the public records to see if the landlord has any outstanding mortgages on that property?

There is an old rule in finance, never finance a long term asset with short term financing.Lines of credit, or HELOCs are short term financing products, interest can adjust quickly, they can all be terminated at-will by the lender, they can be called due, many have terms that relate to your outstanding credit balances, as you take on more credit they see a higher risk and can increase your rate, cut you off or call it payable.Another issue with small investors, a HELOC or LOC that you draw funds on within 6 months can put you in a position of being underwritten as a cash out refinance instead of a straight refinance on a no cash out basis.

You can obfuscate and pettifog the issue all you want, but the bottom line is that it is unsustainable to keep paying off our debt by simply adding zeroes to the amount of money outstanding.

Most folks I have found in the note business even those passing themselves off as pros miss a very important issue about the legal nature of the creditor's rights for indemnification of debts outstanding.

I use Equity Trust and the service has been outstanding.