That gives an investor a real asset to collateralize and it gives them incentive to not let the buildings dilapidate at the end of the lease.

Here are some thoughts on effectively managing these relationships to ensure all three stakeholders feel valued and respected.Stewardship of Owner FundsProperty owners entrust PMs with one of their most valuable assets, and being good stewards of their funds is paramount.

It actually works out better when you enjoy the asset yourself as opposed to someone who just wants the money. 

Especially on the Preferred thing, that does seem to work!

Taking the earlier example, if you want to cashflow $120k a year, one way you could break it down is by setting a monthly target of acquiring one asset a month that cashflows $10,000.

I prefer an assignment @William Causey as it keeps me off the chain of title and any issue(s) that go with being in the chain, as well as any additional expenses related to a doublel close.

A good name is the most precious asset in business—one that cannot be bought or replaced once lost.

That could be market knowledge, ability to rehab a property - something that can give you an edge over other experienced RE professionals in the market and asset class you are working in. 

I think this gives me good asset protection and allows me to take advantage of leverage. 

Hopefully as the rates and the housing market loosens so will some of these guidelines in the HML programs. from talking to hard money funds especially those who operate in more than 10 states, and 5 years of experience with underwriting teams, I'd actually disagree and say new construction is preferred to rehab due to experience level to enter the market. there's BP lenders that will do 15% LTC with 1-2 new build experience.