The ipod nano is small enough to fit in a tool pocket that can be closed so that it's secure.  

Is a security deposit required?

The loan was secured by 2 properties in Chicago.In the closing documents, there's an Escrow Agreement which says the private lending mortgage broker acts as escrow agent for borrower and lender to hold said Quit Claim Deed: (Escrow agent = private lending mortgage broker) with the following terms1.Borrower agrees to deliver to Escrow Agent an executed and notarized Quit Claim Deed running to Lenders for the properties2.

If you take 'adverse action' (decline them or request a higher security deposit) on an applicant, you should provide an Adverse Action Letter to the applicant (many templates/guidance online etc).If you don't have acceptance criteria and appear wishy washy, it may appear (at times) as discrimination -- even if you're trying to be nice...

We bought the property with private money (a family members HELOC) and now we are looking to re-fi.

Olivia,Most investment professionals, brokers, advisors, and even CFP's are paid only on commissions and fees generated from managing a portfolio of securities. 

DON'T make these types a partner for yourself, lest you subject yourself and your finances to great and terrible risk.5) Tax implications - understand the formation of the LLC in Tennessee(you said you are looking at Memphis), how business 'flow through' income works for partnerships in corporations, and also learn which types of income are subject to social security tax vs.  

It will sort of delay the investment process but secure you your first property in the mean time. 

Hi Tory,If you will be lending and securing the loan out of state, the law of the state where you are securing the loan would most likely apply, but I'm sure there are exceptions to this.I would think that you need to check for the laws in Massachusetts also.In California and in other states, but not all, you must be a licensed to secure loans with real estate, there are probably exceptions to this rule.If you secure loans with real estate in California with a licensed broker, the loan is exempt from usury laws, again, there are exceptions to this rule like lending less than 30k in senior position (or less than 20k in junior position) and there is something that attorneys talk about regarding charging an unconscionable rate but that would be getting way too detailed...Another important consideration is that if the proceeds of the loan are used for personal use or if the collateral will be owner occupied, then that triggers a bunch of other regulations, this is why most hard money lenders only lender for non owner occupy business purpose.

Does anyone have any advice of how l should go about securing portfolio lending and other creative lending forms?