Also, if he is an individual and not an institutional hard money lender, he could make up his own terms.

I have read multiple books, listened to podcasts, read blogs/posts, and spoke with a few individuals and I am in the process of developing my plan.

Make sure that you can sell them off individually as an alternate exit strategy.

Does it depend on the individual loan and underwriting?

The job market is skewed so there are mostly low paying jobs (restaurants, stores etc) and high earning individuals (business owners) 2.

In most cases (landlords included), the individual whose record is to be referenced is has to initiate the request.We've only ever requested a criminal record check twice and both times the applicant withdrew.

Or is he willing to sell all 3, but could also potentially sell them individually/one by one?

We took in a good amount of foreign capital by selling performing notes to overseas entities and individuals, then managing the cash flowing asset.  

If you think you're profiting unfairly then turn around and  donate the same amount to a charity, group or individual who could really use it.  

Not withstanding the above, an individual raising capital in a private securities offering must provide all potential investors with a detailed private plavcement memorandum or he gives up all his statutory defenses in case he he sued by the investors3.