. - Today, we bid on 6 NPNs (1st liens), waiting on copies of collateral to perform due diligence. - Consistently go see 2 off market properties/wk for acquisition. - Consistently set 2 renovation jobs/wk for the GC. - Revamp my 2 web sites.     

Hi,If you take out a hard money loan using a property as the collateral for that hard money loan, in order to pay off that property's mortgage, does the hard money loan act as another mortgage against the house once the mortgage is paid off? 

That value could go up or down depending on the specific factors of your market.If you apply for a refinance or other loan using your property for collateral, the bank will most likely order a new appraisal and base the loan on the current appraised value.

We are all bringing cash to the deal, however we desire to set this up through 20% capital and 80% loan collateralized with the property.I was under the impression that we can set up a mortgage at the time of closing and register it with the state. 

Collateral.

Still, my LTV's improve with every passing month, and I have a hard time believing any bank would turn down an 815 FICO with $2.4M in cash-flowing RE collateral for a loan.

5) some form of collateral (what would you recommend?)

Also do PL AND HML secure loans on collateral, such as the property being purchased?

Probably not, there may be fees associated with this if you take out a loan with this as collateral, normally you should be able to qualify for a conventional mortgage based off of your income. 

My lender thinks he can get me approved for a mortgage to buy it as a SFH, but even if I could - I don't have $180K for the down payment.The only idea I have is to make a list of every rich person I know and take each one to lunch to pitch and hope that one would be willing to lend me 900k at going interest rates, collateralized by the property.