I love being a private lender but the fact that it simply increases my taxable income makes me consider shifting some of my note portfolio to multi-family perhaps...You might find this discussion beneficial where similar question is raised: https://www.biggerpockets.com/forums/51/topics/604...Owning notes in your retirement account (especially self-directed Roth IRA or Roth Solo 401k) is ideal since you can have tax-free income for the rest of your life if you utilize one of these vehicles. 

That’s what I shifted to 20 years ago.

Then, the calculation says cash flow shifts from the bank to me as the owner.

I work 12-hour shifts 5 days a week and also am busy with other things for, so I'm typically out of my house by 5:00 a.m. and I don't stumble back into the house until 8:30 p.m-9 ish where I usually cook a little bit to eat and then fall asleep .

The market is showing signs of finally shifting.

So in a year, when enforcement takes hold, who knows if the market will shift with many running for the exit at the same time.tl;dr:  Thought I might find some people trying to exit before everyone else, but haven't seen it yet. 

This news article shows they are losing money on each flip, and based on the above metrics that seems to be the case. https://wolfstreet.com/2019/05/10/house-flipper-zillow-lost-109k-35-per-flip-net-loss-triples-shares-soar/Now they say they are shifting gears and slowing expansion.https://www.kmov.com/zillow-is-losing-millions-on-selling-homes-ceo-isn-t/article_3c33debd-fb28-53e3-b95a-23b8f679fcef.htmlSomeone is going to win Zillow or the Market - We shall see....Why Steve Eisman, Famed for Betting Against Sub-Prime Mortgages, Is Betting Against Zillowhttps://timandjulieharris.com/2019/08/29/why-steve-eisman-famed-for-betting-against-sub-prime-mortgages-is-betting-against-zillow.html

Too much development anywhere will drive down prices, or cause a shift in neighborhood desireability. 

I look forward to updates as you complete the purchase and shift to finding renters.

The states aren't getting enough from the printing presses of the treasury (your taxes) to pay these unfunded liabilities, so they shift money around and increase taxes on your state income taxes and property taxes.