From an accounting perspective there is no return until the negative equity position has been recovered making it one of the worse returns on investment.  

Quote from @Carlos Scarpero: Studying this whole note world and I'm curious....From a borrower perspective, what advantage do they have going with a private lender vs going through a mortgage company/broker?

I know that LH’s get a bad reputation, but with the leasehold till 2050, that’s 25 years of possible excellent cash flow, It’s attractive to me to invest in from that perspective alone. 

We are going to be buying property and building a spec home shortly and need to understand the pros and cons of doing this deal through an LLC vs. as individuals, from a tax perspective.

We are customizing our Podio so that leads with a certain label can be automatically pushed to a list on Smartphone Dialer for more efficient follow-ups that can be retargeted fresh.

There are pretty stark differences within real estate (from the tax perspective) and a CPA that works with SFR investors may not be away of the vast differences with MFs or STRs.  

Feel free to shoot me a dm if you'd like an outside perspective

You get to answer questions, help people and along the way you gain a bigger perspective.

Try to make income statements every month so the expenses are still fresh in your mind and you do not forget what you paid six months ago.

@Hunter McNeillHere is a different perspective to think about.