As some of you may know, while I am working on becoming a budding real estate investor, my main gig is as a songwriter and music producer.It turns out today I was informed that a song I wrote and submitted to American Idol has been selected out of close to 30,000 submissions to be one of 20 final songs to be voted on by the public online, with the winning song to be performed and recorded by this year's winner of American Idol!

If you put a debt instrument on a piece of real property you need to be licensed.. unless you are doing it as a retirement hobby there is usually some exclusion for a few a year.If this person wants to go into the business of doing financing then that requires licensure.although most transactional that happen same day not sure those need licensing since your not loaning money just moving money into an escrow and out. .but it oculd be in Ca.

By participating in group purchases, whether through LLC (or LP), fractionalized interests, or payment dependent pass through instruments, the amount needed for a diversified portfolio would be substantially decreased.  

Just as we were about to go in the front door, from out of nowhere we heard loud music being played by a the high schools marching band.

Don't let Greg scare you too much, I've lived with others for something like 10-15 years and not had any bigger problems than someone was playing their music too loud at night.

Debt instruments are not the same as owning and it would take a heck of a lot of paper to produce $120K.

If it were legal, people would be doing it all day long in other investment instruments.- You don't get any rewards for leaving equity locked up in a property. - A paid off mortgage on your personal residence is not a return at all but a liability, at least until the point you sell and that assumes appreciation that outpaced inflation.

A holder of a note with mortgage/DOT is a lender and controls the property through the security instrument with the borrower carrying the burden of ownership liabilities. 

Now, in less than a year, there are 5 kids (the 5th baby arrived just few weeks ago) and 3 dogs, doing "dodos" everywhere, attacking us on our own property, tenants don't seem to work and it's hard to imagine how they make living (neither one of them seem to work), causing noise disturbance by loud inappropriate music every time we are in our back yard, etc... 

I imagine the worst: a neighbor who is trashy and keeps empty soda cans or water bottles on the lawn, toys strewn about, doesn't cut the grass, smokes, has excessive traffic, vicious dogs, unclean or untidy enough to attract and feed roaches, loud music that disturbs my tenant, or even maintenance like the roof or windows.