Or even purchase something larger such as multi-family or commercial that provides better cash flow. 

This is proper planning and so smart to get educated way in advance of the first guy so you are totally on the right track.

We would be open to small multi family in the future.

I'd recommend looking for either single-family homes or multi-family properties with 2-4 units.

I’ve seen some investors focus on surrounding areas or neighborhoods with more value-add potential, as they can offer better cash flow options.Curious to know if you’re also considering multi-family properties in the area?

My suggestion is to look for someone with a strong track record in investment properties, ideally someone who has successful investments themselves.

I'll see if I can track down a suitable NoD template that I can work with for those very specific instances.Thanks again,Steve

I am currently trying to get into my first multi-family deal.

And, comment to all, is there any ability to track these assets and see who owns the notes right now?

For one of my multi-family properties, I chose to dig my toes in the sand and make extra payments on the principal until it was paid off.