From Fannie:Borrowed Funds Secured by an AssetBorrowed funds secured by an asset are an acceptable source of funds for the down payment, closing costs, and reserves, since borrowed funds secured by an asset represent a return of equity.Assets that may be used to secure funds include automobiles, artwork, collectibles, real estate [EDIT: eg, a HELOC], or financial assets, such as savings accounts, certificates of deposit, stocks, bonds, and 401(k) accounts.Secured Loans as DebtWhen qualifying the borrower, the lender must consider monthly payments for secured loans as a debt.If a secured loan does not require monthly payments, the lender must calculate an equivalent amount and consider that amount as a recurring debt.When loans are secured by the borrower’s financial assets, monthly payments for the loan do not have to be considered as long-term debt [EDIT: in other words, 401k loans are not only acceptable, but we don't even hit your DTI with the payment].I like to push things; I've been waiting for an opportunity to use artwork-secured debt for ages but it's never come up.

There are all kinds of notes out there; real estate notes, automobile notes, mobile home notes, business notes and, notes secured by most anything that can be financed or held as collateral.

@Chukwudi Motanya,Would you buy a $50,000 automobile without first physically seeing the auto?

In other words, most of their money comes from automobile parking fees, not landing fees or gate fees or anything to do with aircraft.In Tulsa, Oklahoma, in the early 2000s, a guy named Mike Fine had made some money operating taxicabs, and decided he wanted to build and run a parking garage next to the airport. 

I sell my contract to buy at $25k for $27k before I am actually required to put up the money and take possession of the car.You are claiming that the fact that I am a principal to the initial contract, and to the second, is going to insulate me from having to be licensed as an automobile dealer?

If you were going to bet on the next best performing electric automobile maker, would you invest you half million with Elon Musk...or the guy tinkering in his garage down the street? 

For me its Automobiles.

Many years ago I was in the automobile business and people would call in and after a brief descripition the would ask how much it was worth.

I can purchase an automobile for say 5K and resale it for 10K, nothing deceptive and perfectly legal.

What I mean here is that many people deduct their automobile expense in Line 9 – Car and Truck Expenses…..and you might be correct that itemizing your automobile deductions might allow you to get a HIGHER deduction when using this line….but your lender cannot add it back to your income!