Not in a rush to pull the money out.I wouldn't mind renting it out but the wife said no.

@Carlos ScarperoI am not sure that I am completely clear on your question as you phrased it but I will answer it this way:Two big advantages of getting a loan through a private money lender are:  (1) Speed (2) Flexibility.JJ

FURTHER CONTEXT...I currently run my own handyman business and often take-on projects to rehab bathrooms etc.

I see it as additional paperwork, and a lot of wasted money (unless you were an attorney involved).

The first lien is hard money.  

Do you have any that you have used in Davidson County, TN or Marion County, IN - I tried googling (albeit shortly) and nothing immediately popped up.

Hi Jacklyn, I'm a VT realtor (though I focus on northern VT), and also on the board of the VT short-term rental alliance (VTSTRA).

While right now only 2/4 units are occupied, there is still money coming in every month instead of having to foot the mortgage by myself completely.

Curious of a few things for those that execute this strategy currently:-The city the property is in has a no more than 4 unrelated people rule, would that be an issue for me if all bedrooms were full or does the fact the basement tenants would be short or medium term save me?

What are my options as far as securing that second mortgage and what would you recommend, Conventional, FHA, Hard Money?