The days of straw men, musical chairs and west Texas fill land. 

It is like musical chairs...when the music stops a lot of people are going to end up holding properties that are far above what the current market value will be.

A secured debt is one in which you sign an instrument (such as a mortgage, deed of trust, or land contract) that: Makes your ownership in a qualified home security for payment of the debt,Provides, in case of default, that your home could satisfy the debt, andIs recorded or is otherwise perfected under any state or local law that applies.In other words, your mortgage is a secured debt if you put your home up as collateral to protect the interests of the lender.

@Jay G.You may not mix personal funds with IRA funds or put a personal guarantee on any debt instrument associated with the IRA.You would need to joint-venture with another investor who is not a disqualified party to your IRA, or utilize a non-recourse loan -  likely from a private lender in the situation you describe.

Any alteration, change or modification of or to this Note, In order to become effective, shall be made by written instrument executed by both the Lender and the Borrower.SIGNATRES AND NOTARIZATION BELOW--------------I showed this to my attorney, not specialized in REI, and she said it's missing a ton of other aspects.

., building code violations, drug activity, squatters, loud music, loitering, littering).

I too did research and found your post instrumental in choosing Memphis Invest.I do have a few questions for you (if you don't mind): You calculated only 3% of rent towards CapEx, isn't this too low?

More musicians and not enough instruments.

Put some good food  in the middle of the living room floor , some candles , some mood music to set the tone .  

What a long road to haul.As I understand it, as I have never reviewed one of their instruments, the family is obligated and the obligation is to some extent automatically assumed upon the passing of the elderly family member.