Look at all the above and more.History, experience, assets, ability to pay, collateral, references, credit score, etc.The more the better. 

The best references I could find would be from the Federal Reserve Banks themselves. 

Originally posted by @Brian Eastman:@Roman Stefaniw@Chad Urbshott recommending Olympia Trust and the like is what I thought I was referring - which is self-directed plan itself. 

A well connected agent can also tap into their network.. for instance, probate attorneys might know of people seeking short-term solutions.

You are referring to "no money down" real estate.

We refer folks to bank-type lenders regularly throughout the year when that make more sense for our clients. 

Did you ever find a solution for a 3rd position heloc?

sorry meant mortgage rates when I refer to interest rates.

But my solution in your case would be to frame out a dividing wall of 2x4s and either drywall or if the basement is prone to taking on water then I’d look for something waterproof as opposed to the drywall.

If that is the case then that is considered cost of doing business and I would advise that should be calculated in your costs/returns you provide to the investor.IF you are referring to the investor who is the borrower - then I would have included that cost in the loan agreement.