Early last year, one of our borrowers, an extremely experienced rehabber who had recently been diagnosed with diabetes, informed us that he’d been in and out of the hospital so frequently that he wouldn’t be able to complete the flip we had loaned on as first position lenders.We were aware that he had borrowed an additional $110k from a second-position lender.

Is this the case for all states?

just double checked my lender is now 80% LTV for short term rentals only 85% for long term rentals

Welcome to the community and be ready for a huge amount of information at your finger tips.

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Glad to share my experience and information if anyone is interested. 

Quote from @Marc Shin: @John Underwood those are some great tips! 

I am asking what you hope to achieve with this complicated setup?

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

Unfortunately, of everything that you have pointed out, this would be the one I would suggest selling.