In almost all investments, you should have a solid base of reliable, cash-flowing, and hopefully appreciating assets before striking out into something new or riskier. 

There are financing options based on your specific circumstances. 

I base my rents on the condition of the unit and the competition. 

Based on that number of units I would expect much higher figures - did you buy these buildings all/mostly cash?

You can't decide which one to choose based on the minimal information you provided.

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My name is Monty, and I’m based in Freeport, Florida.

I have taken numerous courses in RE and am passionate about learning more I am based out of West TX- Midland/Odessa area

If a single-family owner-occupied property is worth $400,000 - I wouldn't invest more than $280,000 (70%) in a note secured by the property.ITV takes priority over desired yield - so even if the note discounts to $350,000 based on desired yield, the investor still won't go beyond their maximum ITV. 

Real estate is not my of my knowledge base at all but I want to start working on building passive income now (I’m 44).