Jamie,you have some details correct and some mixed up a bit - let me help.There are 4 components to a property - let us use a single family home as an example.There is the house - bricks and sticks.There is the deed - who owns the propertyThere is usually a note and mortgage - the Note is the promise, the Mortgage Secures the promiseThere is occupancy.Most people think these are all in the same and sometimes they are - in our instance, they are not. 123 Main St is the physical address.

For example, if you do not put the name & address of the bank in which the separate account you have for the security deposits, in the lease, you owe 3 times the deposit to the tenant.

Because the seller has a security interest, they can foreclose if the buyer doesn't pay.

This still has it's own barriers since title is encumbered and the sale will need to deliver clear and marketable title to a new buyer.When Bankruptcy is filed an automatic stay of collection occurs for all creditors, secured and unsecured and the borrower is protected under Bankruptcy law during the BK plan.

Since I am using HML they will have a 1st position lien on the property, so can I secure the $30k with just a personal guarantee?

Well, yes, but the easy way to spot a financing agreement is if there are any payments or credits made toward a purchase price or amount owing where the title to property secures the obligation or will be expected to be transferred. :)

I have enough security deposits sitting in an account that I always show enough money for a down payment, even if the down payment is coming from somewhere else.

I found one that lends at the following terms: Interest Rate: 5-year FHLB + 3.00%, floor or 5.95% Adjusts every 5 yearsNo cap on rate adjustment (Note: Seems scary)Maturity: 20 yearsRequire 30% down.No prepayment penaltyI am wondering if anyone knows what has been the historical 5-year FHLB rate and any predictions on what it might be in 5, 10, and 15 years since the rate adjusts every 5 years.The no cap on rate adjustments is the scary part, but I guess I could prepay the loan if the rate goes crazy high.Does this look like a good options to secure long term financing if I've hit my 10 Fannie Mae loans already?

I am planning to place a PPM.I am paying $3000 for business plan and marketing and $10,000 to securities lawyers.Does this sound right?

We also adhere to minimum rental criteria of income or income equivalents of 3x the rent, or 2.5x with additional security deposit.