You the "rich big shot investor" will get branded as taking advantage of the poor guy who's now blind or missing an arm and can't feed his family. 

If there is a question about petty crime or property crime in the area then the safety of a garage could be worth the value.Do you know who is vacationing or traveling to the Davenport area?

At that time there will be an inspection for occupancy safety. 

I'm committed to making strategic renovations to improve the home's structural integrity, safety features, and overall condition.

Funds that meet all my safety criteria offer poor returns.So, I figured that with $300-$400K, I can just buy a whole note, on a property or two, and do my diligence on that property.

But for the safety of the occupants, the up charge to go to 5/8" is pretty minimal.

But I am 90% there and lovin it.the one PPM I did I followed your play book we paid cash.. granted returns are lower but safety is much better and we are not having these discussions you see on BP right now with other PPM or syndicators that did exactly what you are talking about.Bottom line when your RE is paid for you need far less of it.

The only option with some degree of control and safety is Short Term Rental. 

Gross negligence means:An act taken without exercising even the most basic amount of care owed to others.A deliberate disregard for the safety or well-being of another person.A lack of care that demonstrates reckless disregard for the safety or lives of others.A conscious and voluntary disregard of the need to use reasonable care, likely to cause foreseeable grave injury or harm.In other words, if there are potential hazards that exist at your property that you are ignoring, you could be considered grossly negligent.

Second, ALWAYS utilize a third party escrow company to keep the transaction as arm's length for the purpose of records and refinance with the bank later to buy you out.