(this is not very likely because of your lack of experience and high LTV) This lender would be in a 2nd lien position and not very secure if you fail. 

I should have funding secured for the area I'm looking at in the LA area. 

I am dealing with a specific tax issue: I need to find someone trustworthy who can perform a tax correction for my parents.

If that is the case, then it is just a matter of getting a new HELOC in place and avoiding the higher rates of a real estate secured LOC. 

this option fee is NON refundable - i would recommend 3-5% of the purchase price -  if they currently have a security deposit (which i assume they would) then you can also convert that to part of their option fee when you redo the contract / agreement with them. 

(granted past performance is no indication of future results.)

I am giving myself no more than 6 months to buy my first house.Long Term Real Estate Goals: Eventually I want the financial security that I feel I can achieve in real estate investing.

Some are even doing it on debt investments which are more secure than equity.

Account Closed  so how do small investor compete with these big players.. they buy the big package cherry pick by the time the notes get to us little guys we get the left overs.this is why I just skipped that and created my own niche with QUALITY performing notes that you don't have to bid on or compete for.. granted returns are not as much as what those hope for in the NP space but there is no work to them.. they are there and ready to go.. just buy them.. its all teed up.. spend zero time on all this work..

Offered less than market value by a long shot, secured the contract!