Investing this amount in passive deals might not provide immediate income, and you could end up waiting years to see returns (similar case in most investments.) 

In fact, even with my extensive experience, I choose to have all my properties professionally managed.Here's why:Tenant Selection Is CriticalThe most valuable service a property manager provides is selecting reliable tenants.

The borrower MUST receive something of value for the deed in lieu, agreeing not to foreclose immediately and giving the borrower time to reinstate, or providing a modification, is that something of value.I need to clarify that these notes are commercial and investment property, so do not have to comply with residential lending requirements.With a deed in lieu there is no foreclosure, judicial or non judicial.  

If you can fight to break even and hang on to that place for the long term, that will provide the best return on capital by a long shot.

My point is this, I am actively involved/advising this investor, providing local vendors contacts (handyperson, surveyor, painters, etc) and I "don't wait for them to call me", I call them weekly. 

I sank every dollar my rentals provided back in to paying off debt and acquiring more properties.

The updates they provide are bare bones and usually only come after I've reached out to them asking about the investment.

Raleigh only allows 2 STR listings per house, but you could easily rent the others as mid-term through airbnb's platform (I do this).

These syndication can provide an 8%+ cash-on-cash return - providing investors monthly cash flow - and a 15-20% IRR over the length of the project.

If you like impacting the nation by providing affordable housing you can really put people in houses here.