A few years ago started calling banks looking for capital to invest in flips came across a bank that said if you have an LLC we can give you an Unsecured Buisiness LOC.

I was thinking about using an unsecured loan to obtain a rental property.

At this point they are like an unsecured debtor and will most likely sell that debt of for pennies on the dollar to some national collection agency.

this is old  tried and true method of simply having you pay them to get credit cards .. there is no need to pay for this service.. unless you want to of course.. there is no magic bullet ut there that is going to give you credit and financing unless you actually qualify for it.But zero interest credit cards are used by some to do rehab and then pay them off issue is though your fico score drops like a rock the second you take on all these CC.Also starting out there is zero chance of getting any kind of business line of Credit that is unsecured.

If you did not and it’s unsecured debt you could be out of luck on some or all of the money as depending on his situation unsecured creditors in a bk may receive pennies on the dollar depending on what he can afford and if converted to a ch 7 you would get wiped out.Even in 2nd position he could argue the property is underwater and wipe out your lien.

There is quite a bit of unsecured money on crowd funded platforms these days where you can get enough for a deposit on a lower end property.

An unsecured loan, as this one seems to be, would not be eligible as a source of funds for someone doing conventional financing. 

His note seemed to indicate it was an unsecured line of credit so I wouldn't touch that with a 10-foot pole.The short answer is: everything is negotiable.  

But, it could be that the lien was as a secured debt was extinguished through the FC and it would then become an unsecured debt.

We recommend it be evaluated by a qualified chimney contractor (see Roof page for more chimney info).There appears to be an open, and possibly unsecured, junction box at the rear end of the attic.FOUNDATIONThe basement stairs have loose/damaged steps, are sitting on loose boards at the bottom where the stringers have rotted/deteriorated.