After 3.5 years of being interested in real estate, learning, and making it my career, I am officially an "investor".

I'm glad the community was able to help you make a stronger lease to avoid issues later in your investing career and that everything worked out for this situation.

They create the team and a plan, acquire, due diligence, take care of loan products (If needed), oversee construction/renovation, hire property manager (or run in house management,) take care of accounting/taxes/K1s, deal with closing or refinancing.An LP (limited partner) just puts in the funds (after hopefully vetting the GP and team) and keeps fingers crossed while earning mailbox money. 

My interest rate is sub-five percent so I could be earning more money on that $100 than I'm spending to keep it in the loan.

Pretty straightforward project but extremely useful for my investing career going forward. 

Easily the difference between getting referrals for new clients and getting unfavorable reviews.I also do respectfully disagree with the idea which many here echo'd that there's 0 benefit to a PM when owners property appreciates....when properties are worth more they rent for more, and PM's will earn higher mgmt fees and higher placement fees all while providing the same exact service. 

@Cindy Auch As others here have indicated, this is one of the more involved questions for those earning income as private lenders."

So I earned the differential of 6% on the principal balance of the wrapped note or about $36,000 per year for as long as the note is in existence.3.

My options are:-Refinance now and foot the extra bill and stay in this current home (I would be footing all future closing costs) and pour most of the money earned from the other sold home into the one I currently live in. 

I am on Bigger Pockets to learn and better prepare myself for my career in commercial brokerage.