For my California house in particular, I LOVE that there's a tax I pay because it means the local government (which is a fairly rural area) is kept fat and happy by mine and others' contributions - they aren't going to WANT to hinder our business, because they profit from it!  

Democrat fat cats did a real number on us to ensure the union vote.4) Crime.

1 year: House hack plus 4 plex cover my living expenses5 year (Lean fire): 5k cover our living expenses (50 units should make this happen)10 years (Fat fire): 10-20k per month depending on our lifestyle but the goal is to buy a family plane for vacations and 20+ acres to build our family home.I want to grow this as a business, not a passive pursuit.

As they say, pigs get fat....I am posting this mostly for those who are thinking about getting into notes.

Reality is, as David mentioned, 95% of what you will do is transfer nursing home patients, pick people up off the floor because they are either too old or too fat or both to pick themselves up, and lastly be the designated adult in situations involving the 20% of the population that no one else ever wants to deal with.

Fat hogs get slaughtered so spreading the risk is what I'm looking to do. 

I get a cheap house and they get a fat check.

Those who choose the first path are smeared with the stench of those who choose the second.I think the difficulty is that a vast majority of people should and do sell their property through a realtor or at least go the FSBO route, and there are a lot of "wholesalers" who listen to the less-than-ethical gurus who tell them the can make fat stacks of cash just injecting themselves in the middle of the sale. 

That is why I like to sell commercial for the fat commission but like hold residential for my passive income portfolio.  

Use the money for some additional projects and keep building that equity pool until you've got a fat 1M commercial line of credit to play with :) Unless you absolutely plan on spending every dollar of that REFI money on primo rentals that you really want- not just stuff you're buying to put the money to use.