Hey Guys,One of my paying borrowers has unfortunately passed away.

If you cannot find the borrower I would secure it and check out interior to see if it is worth foreclosing on.

BTW, if you have a mortgage, you are the Mortgagee, the borrower is the Mortgagor. 

I am borrowing the down payment for my next property in the form of a "business loan" - 5 year loan at 8% interest amortized over 5 years.

Borrowing money to pay premiums early on is a bad sign, any advisor that recommends it you should be suspicious of. 

Thanks I'm not a lawyer and this is not legal advice, but it appears that when it's a one-off between a "borrower" and a "lender" that already know each other, you're good to go and don't need to  be licensed. 

You won't likely find one that will agree to it.Second, It's not likely that you'll find a traditional lender that will let you borrow additional funds to secure the down payment.

Loan Amounts:•$50,000 Minimum to $7,000,000 Maximum – Owner Occupied.Income Documentation:Full Doc - W-2’s & Paystub, 1040’sAlt Doc - 12- or 24-months bank statements.VOE Only Program – For NON-Self-Employed Borrowers Only:•Verifiable VOE from Employer (not self-employed or self-prepared).

It sounds like the only way you will get another mortgage is if you put much more down closer to 40-50% so the amount you borrow is less.

Originally want to use FHA loan to “house hack” either one of the properties BUT it is taking forever for the paperwork and underwriting to complete in order to know how much I am allowed to borrowMy mortgage lender (close friend) says that I should wait before placing a bid in order to know my borrowing $.What I am thinking: Place the bid anyway and if we negotiate and I get an acceptance on the property, FUND IT WITH A PRIVATE MONEY LENDER 100%.