What if franchising is part of the strategy, with a long-term goal of acquiring properties as well?

They made contact with me as well but I don't want to get sucked into a scam. 

Yea they would keep that in place and you'd get a second position mortgage for the rest at, well, higher than todays rates.

Without one, there is a small and remote chance that the existing system of insurance, mortgages and the US housing market as we've known it, is at systemic risk due to; over-financialization, risk aversion and regional fragmentation.

Ended both projects well in the green. 

As explained above, income from the financed portion of the property in an IRA would be taxed as well, but you can deduct related expenses, including depreciation, to minimize this tax liability; that is why I recommend a discussion with a tax expert to understand what your numbers would look like.Hope this helps!  

I would go as-is as well!

Well duh, because that motive to alleviate the bad is gone. 

You will also quickly learn how to manage properties well instead of spending decades figuring it out like most investors.

I grew up in the land bizz  currently building out a 75 million dollar housing project in Oregon that I own and developed  I bought the dirt  7.5 mil cash and did all the horizontal in 3 phases about 2 mil per phase for development costs ( these were bank loans) then same bank gave me vertical loans and well we are down to the last 17 houses of which I have 11 presold and closings every two weeks for the next few months ..