They wanted me to pay off $14,000 of debt which i did but when I walked away from the closing table I paid a total of $12,746 in additional closing fees.14,000:Debt$12,746: Closing cost on new houseTotal cost: $26,977Netting me only $2,400 from both closes.I felt like putting my head through the wall as the information I was given from my loan officer was nothing close to what happened.

(loan against my dot/note)$50,000 1st position deed of trust/note (only lien on title)Secured by $450,000+ newly remodeled property with clean titleNo interest rate, past balloon date so can be called due at any time (was placed as interest in home)Property is titled to an LLC so homestead exemption wouldn't apply in event needed to forecloseLooking for a short-term loan using the note and deed of trust as collateral. 

Would this be secured or unsecured loan?

It's a total gut - right down to the studs. 

My biggest worry is buying all the furniture and items we'd need to make the space a BnB but then it totally failing.I don't want to spend all that money if I'm not going to make it back.

The logistics of using a land trust to secure financing, while enjoying the protection of an LLC, are laid out in this article: https://www.biggerpockets.com/renewsblog/llc-lendi...Ultimately the goal should be to keep as many financing options available while ensuring your asset protection is solid.

The difference being that the buyer's policy does not cover total replacement if the house burns down and it essentially just covers your investment in the house. 

i did. we verbally agree to 1000 sqft gross rent on 5 month trial for $1000 plus $160 for their portion of cmp and oil bill. with no security deposit by him and no repairs required by me. 

.- If you need to use the renal income to qualify, tenants will need to be in place with signed leases, security deposit made, etc.- HML often have a hard time giving the new lender an accurate "payoff statement" and verification of on-time payments to them (latter necessary because HML typically do not appear on credit), which can delay the refinance causing (surprise surprise) the HML to get another month and change of interest out of you at the crazy high interest rate.

Total time is usually less than 6 months.