I had -$50k for my first deal and I bought it with seller financing (seller carried back 90% of the purchase price) and I borrowed $450k of private money to close the deal, rehab it and sell it.

In preliminary inquiries, I'm told I can expect to be able to borrow 80% LTV. 

Wife wants to borrow $50,000 to pay off mortgage and get her huband's name off the Deed.

You can borrow 50% of your balance.. 

I'm located in SA and am looking for local independent Wholesalers to connect with (for both myself and my pre-approved borrowers).

Might just be an invoice with legal verbiage or an outright contract.When you borrow money, the lender will have their contract.

Purchase price: $40,000 Cash invested: $135,000Long time borrower of ours buys vacant lots and places brand new manufactured homes on them.

  #1 important is the property and its numbers (debt service ratio etc) then it is your strength as a borrower (income etc)..if the property numbers are good and you have professional (quality..not always the same thing) that you will use then you should be able to find lenders. 

Borrowers don't know the difference between what a lender requires and a "guarantee" on a package of roofing shingles.

I am a bit confused about what interest payments would be deductible if I borrowed more?