If you have cash to invest, I think notes have a lot of merit.

I suggest: treat each property on its own merits.

It doesn't have to be an extensive review, but I'm curious about the relative merit vs the traditional "borrow from bank, put 20% down and put a renter into the property".

I'll answer some of your transactional questions as others have already provided feedback on the deal's merit, or lack thereof, as an investment.So, i know the numbers don't really make a lot of sense, it's CA... :( but I"m wondering if it's worth putting in an offer to get my feet wet.

@Ethan Smith Just really depends on which deal has the most merit.

Then when they scrub through the sites submitted and leasing broker says it might have merit THEN they discuss it further and MIGHT put in an LOI.

All,I've been looking at 2-4 unit multi-families and I'm contemplating the relative merits of proper duplexes (houses built specifically as multi families) vs split-up singles. 

Thanks again  Each property needs to be viewed on its own merits, and sometimes there just isn't any nearby close and recent SOLD comparables.

I'd think too it wouldn't be stirring the pot if both of us were not mentioned suggesting a reply, then you are the peace maker in this case....well done, If i was wrong my appolgies....my explanation still has merit as to my position here.

We are located directly across the continent from you (literally - the latitude is almost the same) and a country away, but are also in a university town and have several student rentals: apartments, houses, rooming houses.We share your sentiment that students merit decent housing (clean, safe, energy efficient) and that is what we provide.