@Aaron Wyssmann   I did 350 rental homes in this manner:Investor remained a lender so they did not have any liability issues of being a landlord.In the prom note there was simply an equity participation clause which spelled out the business deal. along with the interest rate on the face of the note... therefore you as the operator or owner if you do well make some upside on rents.. but if your not as brilliant at it as your investor was hoping your investor still gets their % return and you feed the deal or it breaks even.

you first need to make sure the lender in first position will allow a second position lender.. some will some will not.you can simply do a second deed of trust and prom note.. or mortgage what ever is applicable in your state with multiple beneficiaries. you need to check with your state to see if Multi bene loans are legal..

This is like high school prom all over again!

I’ve borrowed with my personal name. agreed unsecured Prom note is what you would do here.. of course Notary is not required on Notes but does not hurt to do it..  

But that can also be in the form of a prom note.. in Oregon Prom note EM was SOP back in the 90s when i first came here and was doing deals..

It would be spelled out in the Prom note.

Wealth- don't flaunt it. 

The problem is that it's easier said than done, social influences weigh heavily and people are always trying to flaunt and out-do their neighbors and friends.I think work ethic and passion is by far the most important factor that differentiates the wealthy from the others. you don't really ahve to be that "smart" IMO.I think the recipe for success and wealth is this: If you are passionate and determined and thus work hard towards your goals, and are financially responsible (spending less than you earn) wealth can be achieved by almost anyone.the two opposite ends of the spectrum are the individual who labors at a meanial job just enough to pay his rent, cable bill, and a case of beer and box of cigarettes so he can sit around his house watching tv.

Yes, you are correct that it would be up to the investor whether to proceed without meeting the MI company’s request for a prom note/cash contribution.

It has no batteries or moving parts.I have a camera system that monitors the front exterior and boat dock for security purposes.I had a parent that rented the house for her high school daughters Prom party.