Housing policy is a mess in both PG and MoCo.

Be it stocks or real estate.If I want to gamble, I'll go to Vegas and loose quickly on the slots so I can have a cigar and enjoy a cocktail.Much success

PG does not allow them

1. you're right in the new ones from developers don't produce any cashflow. you might want to look at the secondary market to get better yields as the properties are already built and can cashflow right away. also easier to see comparable rents in the same development. check bank repos, distressed sellers and the like. you might also want to get a parking slot for added income as they can be leased out separately. it's also quite difficult to sell without one should you decide down the road. developers usually have an in-house leasing team to handle property management which we use for some of our properties.  

I'd try to collect too, is it PG?

If they have been in the location for 5 years paying rent and never defaulting, then I would not require additional PG.

@Michael GreerSomething doesn’t seem rightYes you win at sheriffs sale but the sheriff and courts need to finalize the funds and who gets what and then issue the deedYes in some places this can take monthsWe had one in PG county Maryland that took 14 months for them to issue the sheriffs deed

Quote from @Melanie P.: @G.

promissory notes are pretty generic.. but you usually have a PN and the PG is a separate document.

We will lend at X% and whether you make $ or not, not our problem (well it is if you do not pay us back but that is where the PG comes into play).