Quote from @Jaycee Greene: Hey @Daniel Stegelman, how much are your operating expenses?

That part is not as straight-forward.Such operating agreements are frankly costly when done correctly.

Lots of crime over there, I'd say best bet would be 1 occupied and 1 vacant.

The most important part of a syndication is the person and company that is operating the syndication. 

So you still need to sign.Have you provided them a copy of the operating agreement of the LLC, certificate of good standing etc.

He is not financially independent, but I bet he's living the life you dream of.Figure out what you really want, then start building a plan to get there.

Are there any insurance companies that people would recommend for this investment strategy that do operate in the Austin, TX area?

There are very few sellers of notes right now, so who are you buying and selling too.You are going to be sadly dissappointed and realize after 3-6 months you probably wasted your money.Your best bet is to join some groups on FB or elsewhere and start to learn that way.Let me ask you this question: Have you spoken to any note investor out there to ask them about the environment today to actually get into notes? 

Non-profits and/or sober living operators may also be interested, depending on their needs.

Yes this is a Refi on a commercial property with additional large cash out included for sole purpose of reinvesting into another property, as well as a large operating line of credit in addition to the Refi is included.