The great lakes region is considered a climate heaven. 

Lots of us have our licenses, but committing full time to being a realtor in today's climate would be very hard as it's commissions only.

If you can finance an entire deal that way, it does give you the potential to buy out the preferred equity and own the entire deal yourself within maybe 3 years.I think preferred equity is easier to raise in today's climate. 

I typically talk less about the market conditions until we have a general plan in place, and then we discover what may work best with the current climate (rates, fear, opportunity, demand, etc..)

Interest rates in the then current economic climate were in the 15 - 17% range for new mortgages, hence I was able to purchase a note on a SFR with a principal balance of $50,000 or so and an interest rate of 7.5% for $22,000.

I'm in a heating climate and a gas boiler would be expected to last 30-40 years at least.

We sold one property this year where we wrapped the 4% mortgage note into a 10% note and as a result are enjoying a 17% annual ROI for a minimum of 2 years and possibly as long as 10 years if the borrower/buyer does not pay us off early.After 40+ years of real estate investing, in many different markets across the country during many different economic climates, both in residential and (primarily) in commercial, I can tell you that hard and fast “rules” should be constantly evaluated to see if they are limiting the opportunity to “jump start” your wealth building.   

I guess you could add climate change as another reason to be wary of them.

@Adriana V Alvarado you'll learn more and have better control over a local house-hack versus an OOS rental.Just be careful of the tenant-friendly climate in California.

We are considering developing it into a multi floor climate controlled self storage facility.