As someone who deals and talks to real Private Lenders (small shops run by a guy who lends his own capital and doesn't use big box), they have a hard and fast business model that produces the rate of return they need to remain profitable and curb the risk on their cash.So the best product for a budding fix and flip investor is the bridge loan which includes acquisition money and construction money. 

If an asset is throwing off a certain yield that is not commiserate with it's risk, then investors will then begin paying more for that asset, thus decreasing it's yield....or start paying less for the asset which would increase it's yield, until it was at the proper risk/return rate to produce the yield that is truly reflective of it's risk.The problem is novice real estate investors get the risk/reward correlation backwards.

@Lauren CartmellWhen selling a tenant-occupied property, it’s best to work with an investor-friendly realtor who specializes in investment properties and has access to income-producing buyers.

I also got involved with a builder in Florida who has yet to produce the first of three houses they're contracted to build, which was a major hit to my available funds as well, setting me further behind.I also figured if I fell a little behind in saving (18 months instead of 12 months for example), I'd still be making progress.

It's mostly about making $ out of the world economy WITHOUT actually producing anything of value. 

Case Shiller indicates no US location has produced a better return than San Fran, LA, or San Diego for this century.  

A smooth sea never produced a skilled sailor (Franklin D.

And keep in mind that the rate on the 2nd lien will likely be 10-12% so depending on the cash flow it might not actually yield that much cash to you at closingMore importantly, it's just more debt so ultimately it sounds like you need an income-producing event to actually improve your situation and avoid some of the consequences that you mentioned

Both land investing and multifamily are great but what's best for you is more important.Land has no cashflow and is speculating imo too so personally it doesn't fit my investment thesis of buying property that produces cashflow.

And one would have to get with the companies that produce these debt instruments to rewrite them.. most banks use the same providers for their legal docs.