The issue with our loan would be that there is no collateral since our loan amount would be more than the land value itself if anything were to happen.

Additionally, is this a non-recourse loan, meaning the borrower has no personal liability beyond the collateral?

However, keep in mind that you are using your primary residence as collateral in this case.

My question is, can I use one of the separate parcels as collateral for a construction loan to build a multifamily on it (of course adhering to zoning regulations)?

Short term, just for fun relationships can end mutually without collateral damage.

Capacity ( cash etc)  ( Credit) Cant refi if they get stuck and Collateral ( negative equity) and Character ( they just walk or rip rents on purpose and screw the sellers)

He asked me for the following-1: Company certificate (for companies only)2: Drivers license/SSN3: Utility bills4: 1-3 months statement of account5: Documents of the property to be used as collateral (if any)6: Provide Loan origination cost for the processing and transfer of your loan funds 7: Bank details for funding (closing)I have their website, but how can I fortify myself so I’m not being scammed.

The 'right' AirBNB mortgage and mortgage lender can often be the difference in making a deal incentivizing enough to invest now.The first step to qualifying for any mortgage boils down to: Cash, Credit & Collateral.

I did it a little different since I was doing 100% land and 100% owner financing I took an interest in the seller carry back ( collateral interest) so I was not hanging out there with personal notes. 

. - Cross Collateralization.