If not, then a reverse exchange for us to simply hold the property for up to 180 days is possible.  

@William BohanVariety:  BDC's, MLP's, various closed end funds holding credit/debt instruments and/or MLP's. 

But I am not trying to sell the note, I will continue to hold it, and in the worst-case scenario, the borrower will become current, or in the best-case scenario I will foreclose and gain equity.

Just one question, I would be able to do a cash out refi even if I don't put any work into the home if I decide to buy and hold?

I've largely stayed away from the "sub-to" buz word, but I have done a couple sub-to flips knowing that I only needed to hold onto them a couple months and I was prepared to pay off the notes if they were called.Sub-to for long-term hold on the other hand has me nervous. 

I simply went to Wells Fargo (Wachovia at the time) and asked for a trust account so I could hold deposits.

I just can't imagine why you would liquidate your successful, growing real estate holdings to send your money off to something that is super risky and doesn't pay that well over the long term.

So, a tenant can better tolerate small yearly increases rather than holding off and giving them a large increase further down the line.

I know I need to hold the security deposit in an escrow account.  

"I actually think renting a place will get me started"If you are talking about being a tenant yourself and operating a airbnb in your rental apartment don't hold your breath.