I suppose it boils down to whatever your specific agreement with them is/was.

@Taylor Cook A specific attorney in your state (looks like CO) is the right person to answer this, but I have posed the same question to attorneys and my understanding of the answer echos the info other posters here have given. 

Highly unlikely he responds on the first go so you need to have a  plan to get the full effect

You’ll for sure want (1) a buyer capable of making monthly payments, and having a history of honoring his debts and (2) a PLAN just in case the (smallish) possibility arises that the note is called.

.- Business Setup: I’m setting up a new LLC specifically for this venture, which means the LLC will have no prior credit history or track record.- Investment Location: I plan to invest remotely in Birmingham, AL.

I have an initial list of currently available properties clustered in specific areas, mostly Massachusetts, that are turn key and cash flow positive, minus some development, consisting of $260mil worth of real estate.  

They are purely for investment purpose and will require you to sign a non-owner occupancy affidavit at closing stating you don't plan to occupy the property for more than 14 days out of the year.A second home loan is as it sounds, a loan for a property that you will use as a second home, and live in.

My wife and I own a two-flat in Chicago, and we're planning to upgrade our heating system.

I can provide you my insights what i have learned in REI ($-$ analysis in turnkey's) - shoot me a DM if you have any specific questions.Cheers.

But I would not, not use them just because people responding to this post have not heard of this specific lender.