When they ran into a snag with their second investment property (something about a zoning issue, if I remember right), the personal connection they had with their banker saved them a ton of hassle.

I’m also basing my opinion based a lot on the anecdotal evidence in talking to commercial and residential bankers, our investment partners who own companies that span across many verticals.And all of that is pointing to “no soft landing”.  

I would just be up front and ask the banker what they would want done.

my self I have  been with my same commerical Banker for over 30 years without him I would not have made it through 08 to 2011.. loyalty is key,that said I have borrowed from one other commercial bank as well. my loan facilities are not what most are doing.. they are land and development loan and vertical .. and a few commercial buildings..

My DTI was borderline with my wife not employed but having friendly bankers on my side did it.

I was just talking to a banker who moved from Chicago to Knoxville yesterday, and he said it has become unaffordable and unlivable, in his words.

But I am old school its why I only use Commercial banks I want to pick up the phone and talk to my banker.

This depends on your agreement and whether you are hypothecating the note (meaning you own the note and are borrowing against it) or doing a partial where you are selling that portion of the note and issue a collateral assignment.When i did partials I did it as a hypothecation where I kept control of the note because those who typically buy a partial are not savvy note investors and if it went into default the first call they would make would be to you.I know some who let the buyer own it and they would be calling the servicer every week asking about payment or emailing the etc. then if it did not show up they would be calling them.How you structure it is up to you, just realize there are pros and cons for both hypo is the way to go.. also the OP might just check with their personal banker if by chance they bank with a small community bank..

That being said, many mortgage brokers and mortgage bankers lend in multiple states.

Talk to a commercial banker.