For that amount, you might as well have purchased an extra smaller house.

I would be interested to hear others' experience as well.

As Shawn mentioned above insurance is going to be a HUGE deal in Gainesville as well as HOA's.

Another option is to look into some funds as well that allow smaller investments. some are anywhere from 500-$10,000 minimums and accept non accredited investors (through regulation a+).If you ran numbers of a loan paying p&i at 10% but ot being able to reinvest the principal payments you realize how low your returns actually are. so yes notes are great but also understand that idle money for any investment is not fun.

The other component here is understanding the bank's business as well.

You could front the down payment as well as monthly payments to the seller, then charge interest on them.

If all goes well, I'm building the courage to surrender to the challenge. 

Message me and we can cover all that and where I think you'll be best served investing in our market and similar markets in Texas as well as best practices.

Quote from @Duane Richards: @Sundone Boutvyseth I also did a 10% on STR in Florida last year, it's worked out really well, but went through a national lender.

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