In general, at 80% LTV, borrowers can request PMI removal.  

@Josh Thomas I love Groundfloor as a borrower, haven't tried it as a lender.My first loan with them was a couple of years ago and it was very easy to do business with them.

There are laws on the books in most states that prohibit equity skimming against a borrower in some stage of foreclosure.

Which is better for real estate borrowing under your name?

We currently have all our properties paid off but as we acquire more will need to borrow money to expand.

The buyer/borrower would need to fill out a complete application like they would at a bank and the seller would need to have a mortgage loan originator approve the file.

When he completes each part, the funds are released.When I'm lending here in Wisconsin, I don't put a traditional draw schedule in place for my borrowers.

Borrowers make the payments. 

You have never made any profit off your borrowers of hard money right??

Another way is for the private investor to loan the money for the acquisition for 6 months to 1 year and they receive a certain % of return on the money that they loaned to you eg: they loan you $50,000 with and 8% return for 1 year so they would receive $4000 from you ($50,000 x 8%) plus you still owe them the original $50,000 that you borrowed.