My plan is to take out a private loan, get the rents up and refi to a conventional loan within a year.  

We would still be using the rest of the house also, but that would be our private, quiet area.

I turn them over to a mortgage broker I have and he either gets them financed or someone else does or they don't get financed.Well I think there might be a solid demand for private lenders interested in these mortgages and other lending opps I come across daily.

I bet you have good pies up there.

Your best bet is to be honest and explain the circumstances.Perhaps you could talk to them in advance before you spend the money and time for the classes.

Public non-profit companies are exempt from the law as well (but not private foundations).The licensing and registration under this code section is the CA Attorney General's office - not an entity that takes violations lightly.Also, if you read the Foreclosure Consultant law mentioned by Quinn closely you will notice that it requires a bond equal to 2 times the value of the borrower's home.

There are alot of private lender hedgefunds bear sterns etc that have invested over the last 13 years or so in sub prime and thet dont plan on loseing as far as the banks bailing people out i just dont beleve it thats a smoke screen to make the look sincere what they do is take there down payment and home and get the next guy in and take theres to if they dont man up and pay for it its not something for nothing in this but anymore you almost have to have a degree in economics to understand it confusion is there trick of the trade every business has them theres no crystal ball that says you will have your business/job/same income for the next 30years there finacials change and credit only the strong servive there is psychology within life/money please dont get me wrong a mortgage can work for you if you understand the loan witch is 2 inches thick and only a 3 day recision period but statistics say that you will refi every 5- 10 years need a new car college tuition new born etc and many many other things happen funeral and you need to consolidate and back to 30 years again they have all or most of the angles figured out or at least the important ones what you like is your fault .

What terms are private equity and hard money lenders looking for?

If the numbers work and the market sets the price then a 500k investment for a 2 br/1 then so be it.I agree that location, weather, land availability, and jobs(salaries) all play a roll in the cost of a house.Do I think its crazy to pay that much....you bet.

Pretty sure both those first choices are loan fraud, unless everything is disclosed to the lender and the lender agrees.A rehab loan or hard money loan with a rate-and-term refi is your best bet, IMHO.