With each note, he creates a unique, discrete counterparty risk.In a good fund, the investor is truly passive. 

It means that not only is it rare, it’s unique and genuine. 

To me, this is something you would just buy as a unique primary residence, the only issue would be if you needed the income to qualify.

The property we're dealing with is a bit unique as is the loan where it's a 1.0 DSCR and we're trying to optimize getting as much of our equity out as possible.

It was a mass hotelization of a place that really had a unique sense of place and not just the city but individual neighborhoods - Treme, Uptown, Garden District, Fauberg Marigny - all very distinct from one another. 

Do you really believe this time/market is that unique?

You are best speaking with an attorney about this , I am not , and taking the attorneys specific advice for your unique situation in the state that you are in . 

They all have there unique challenges but using a PMS from the start was a good option for us.

I also have a list of referrals if you have a unique situation. 

Without knowing your unique situation, there's not much else I can advise.2.