If you're focusing on rural properties, sometimes local community banks or credit unions are open to these types of deals.

@Marko BukvaI'm not entirely clear on the plan and ownership, but there are potentially several different types of tax at play for a transaction like you're discussing - gift taxes, estate tax, income tax, property tax, documentary transfer tax, etc. 

It is very simple and cheaper to set up the LLC in NJ vs NY ($50 vs $200 when going on the state website) what is still an open question is I also need an operating agreement for the LLC once set up, wondering if that is also free as part of just getting the LLC set up on the state website or if I need to use a lawyer or a legalzoom type of service to do that.

What type of properties are you looking to buy?

What type of property do you plan to purchase(Single, multi, commercial, etc) and where do you plan to buy it?

I do understand being selective on the type of buisness you take, but as an agent we still have a fiduciary duty to our clients to make sure they receive the level of service this price requires. 

Sounds like, from your perspective, this type loan would not be best for my situation. 

There aren't many "short-term, get rich quick" type investment options in SoCal today. 

What made you interested in investing in this type of deal?

What made you interested in investing in this type of deal?