lets say i find a property and negotiate 85% FMV of $100k.
remaining loan balance $65k
seller agrees to the $85k offer.
needs $10k in repairs
ARV(after repair value) is $130k.
i get $85k HML(hard money loan) which is 65% of ARV
$0 for repair money

is it okay to either ask the seller or another investor to carry a $20k note secured by the property in 2nd position? the $20k will be used for repairs and holding costs.

would the HML allow other notes to attach to the property?

HML is in first position
seller/investor note will be in 2nd position

exit strategy is to retail or refinance and rent(to own)

im also looking for different angles with this scenario whether its creative or using conventional lending