. - Install two new high efficiency condensing boilers, and update windows and insulation for better heat loss performance.PROS - a) minimally invasive; b) can provide 15-30% reduction in heating costs (we are told).CONS - a)total gas expense is still paid by the landlord; b) individual units won't have individual control (except for a thermostat controlled shutoff valve for heat/water in each unit); c) AC would be available on with in wall/window units. 2) Try to individually meter each units' gas and provide each with a traditional forced air heating/cooling system.PROS: a)gas expense could be completely removed for landlord (huge)- even tankless hot water could be installed in each unit; b) each unit would have their own climate control.CONS: a) constructions costs of running new gas lines and soffiting sheet metal duct work. b) highly invasive with collateral construction costs; c) future costs of maintenance on multiple systems vs a single building-wide system. 3) An electric based heating system- This is tricky in my mind because of the high cost of electric heat.

Let me know if you have questions.Rates: 10% to 14% (Most Deals are 12%)Terms: 1 Day - 24 Months (Most Deals are 6 months)Fees: 3-5 points(%) of loan amount (Most Deals are 3 points(%)) - $2500 minimum fee Minimum Loan Amount: $75,000 Max Loan: 65-70% of After Repair Value(ARV) 100% Rehab Financing Available (Most Deals require 10-20% of purchase price down or cross-collateral)Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 7-10 business days)NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

Would depend on if you have enough skin in the game or other collateral

If the borrower was a LLC, they could have pledged shares of the LLC as collateral - which the lender could simply "take" and therefore own the LLC (and own the property). 

-The repeated design also means you can create extremely high quality marketing collateral at a cost you would not generally want if you were say BRRRR'ing various homes without a standard floorplan. and then you can use this material again and again.

He could have easily sold his Tesla shares instead to fund the deal, but by taking on debt and using them as collateral, one of the things he is doing is avoiding the taxable event that would otherwise happen if he sold the stock, and getting what is probably an extremely low interest rate for the loan.

The borrowers BK Lawyer helped with the UCC 1 we needed on the cross  collateral and my Title company did the mortgage and I wrote the note. 

@Larry Cersosimo,It is not possible to use your 401k as collateral for the loan, IRS specifically prohibits this. 

Easements can be purchased, leased, traded or sold.A lease is an encumbrance as well, they can be financed, used as collateral or sold as well by the holder. 

You are focused on loan terms but the collateral should be your first priority.