The point is that Tiffany is collateral damage to a system that is being taught to Investors.

In the past year, I loaned money to investors that were secured by a property as collateral. 

Can you take out a loan against some other collateral? 

Auto extension agreementsA list of reminder clauses to be used when seller agrees to finance; Subordinated agreement, Early pay-off discount, Substitution of collateral, First right of refusal, Principal mortgage clause, Interest only clause, Delayed payment terms, Seller option to buy back, lease back, Prime rate clause, Stutter clauseBeing ready to do business is a good place to start when getting into this wonderful profession.When you get the lead, be ready to close.Charles

I do this because I am always paranoid about losing everything through cross collateralization combined with a market crash, as this has happened to me twice before.All my rentals, all our BRRR and all of my flips are not in my name.

I would ask your lender if they would allow you to use some of the equity you have in your other rentals as collateral and a source of down payment for your next purchase.

So the fact the mortgage is underwater is not a underlining factor, got it, and it is more about the collateral.

As incentive for loaning the money, how do I offer them collateral?

That said, I can confirm with 100% certainty that some community banks in this area will do Lines of credit using your real estate (commercial or otherwise) as collateral, including PFCU.

We come across a lot of real estate related situations where an investment properties serve as side collateral for a bigger transaction or people are looking for capital for a RE project.