What is the fair market value of the property that secures this note?

I wish to make it official and get them on a lease. 

I’m looking for some guidance on my next steps toward achieving financial freedom through real estate.My long-term goal is to acquire enough rental properties to secure my financial future.

@Joe S. over 2.5M of my funds are sitting in another lenders bank who shouldn’t have it and I have no security interest in the property that was paid off.

It looks like he was not officially convicted, but...

The property is yours to secure and use if necessary.

The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.

A good tenant usually wants security and I want "good" tenants. 2.

Laminate countertops can hold up pretty well and if damaged, will need to come out of the security deposit - lower cost product, so a larger percent of it gets paid for if damaged. 

If the 10 year treasury is at 5% which is guaranteed, investors will want a risk premium for the mortgage backed security which here is a great article on it.