@Dustin Verley  In addition to real estate notes I've also worked with these cash flows:Business Notes - no real estate as collateral just FFE  (furniture, fixtures & equipment) and goodwill.Mobile Home Only Notes - mobile home on rented lot so no real estateInvoices - buying accounts receivable at a discount.Cell Tower LeasesLand LeasesCasino or Jackpot payoutsLottery paymentsStructured SettlementsAnnuitiesI haven't personally worked with Auto notes but know several investors doing well in that arena as well.The basic concept with all of these options is similar (purchase a future cash flow at a discount using time value of money calculations or IRR) but the documentation and due diligence will differ.

I am talking worse case: good lawyer repping the tenant, “liberal” jurisdiction, etc. - cover yourself while you can, or demand a lower price.

I think you'll be fine unless some crazy liberal attorney with an axe to grind tries to make the case that offering 1st responders a discount creates a disparate impact on folks that meet the criteria of his client as people like his client are not usually able to get a job as a 1st responder.

SOFI is pretty liberal about what they consider income but only lend on owner occupied so if the home is for you to live in they might be a good choice for a lender, unless they change rules between now and then.

I've barely been on BP this week due to my schedule or I would have at least made an attempt.CLICK HERE for the inspection process in Tennessee.I have to admit, this is a pretty liberal policy!

Being in the field of real estate is a very liberating feeling I must say!

The other thing to consider is make sure you are being very conservative on the rental income and very liberal on the vacancy and expenses.

Agreed that california may not be the best place for this kind of business with stringent laws and all, but what's the guarantee that similar stringent laws may not come up in future in currently liberal places?

This is a potential trap because analysts underwriting multifamily deals are more reluctant/judicious about projecting higher rents but are typically more liberal in assuming a lower loss to lease percentage than the trailing 12 month percentage.

You hit the jackpot if you find a property manager that's just fair😂