As I look around on BP, and listen to podcasts, I hear a lot about private lenders and hard money lenders.

If I do any purchases without any of my own money, I use private investors to provide the funds.

Hi Mike, we run Brew City REI, a private club of over 1500 other local active investors sharing knowledge, contractors, deals, and money sources.

what I find very unique right now Ned is the amount of HML or private money companies led by large hedgefunds investing in these HML companies have driven these private rates down to 10% apr or less.. so to only have about a 4% spread between bank money and HML is quite unique in my experience over the decades.. other than the high interest mid 80s anomaly.. 

Put the money to work earning 12%.2) I would lean toward this option as it gives you some level of managment efficiency, plus income security with the multiple doors.

I will also be collecting one months rent for security deposit from tenants.Thanks in advance for your reply.

Question is, I'm on good terms with the renters, is there a way to sell this on more of a handshake/privately recorded contract that would work out? 

Feel free to private message me if you’d like any more info.

If you are talking specifically about a  business line of credit most banks will not offer them to a real estate company unless it is secured by real estate.

We've just secured the HELOC on our primary home and are ready to start shopping.