Some HML will allow you to do a partial deed release based on a survey which allows you get the collateral released when the property is subdivided.You usually have to subdivided and get parcel # and then refinance the part with the land on it. 2) In Tacoma, I look for R2 zoning with lots over 13,000 sq ft.

-IRA borrowers must hold an additional 10% of appraised collateral value in IRA account at time of closing

You may have, like three days to cover differences.Most all brokers allowing borrowing against funds under management, subject to tax treatments applicable.Another issue is stock, banks may not hold stock in portfolio, other than their bank stock, remember the big crash (LOL) nor do they take stock as collateral as they may end up taking the stock and be exposed to market risks.

What we do with our clients is refinance the portfolio and put the loans into 1 commercial note using our banking partners across the usa (Cross Collateralize).

I'd be careful about HOA liens on the collateral as well.  

They are going to have to admit that they made a loan with insufficient collateral and poor lending practices!

For example, yoy take management at 10% which is earned from running the business, that is an expense to the seller, but he can become inactive as well.In the ops agmt, the new guy can pledge collateral and buy say 30% of the seller's equity, note for shares/interest.

But you will need to value the collateral, due diligence will include knowing real estate and some financing laws as well as business principals.Depreciation and losses in RE may not be a great benefit for you, you need to speak to your CPA and see what type of business entity might suit your needs best, espcially for long term savings.You need to do some studying, from the basics first to build a good foundation for RE investing.

Things like assumption or substitution of collateral, for example.

I suggest you look for a line of credit with a bank, especially if you have other collateral.