With each note, he creates a unique, discrete counterparty risk.In a good fund, the investor is truly passive. 

It means that not only is it rare, it’s unique and genuine. 

To me, this is something you would just buy as a unique primary residence, the only issue would be if you needed the income to qualify.

I would do your due diligence, pick a few markets and start networking within those selected.

Is it only offered in select states?

The property we're dealing with is a bit unique as is the loan where it's a 1.0 DSCR and we're trying to optimize getting as much of our equity out as possible.

Do you really believe this time/market is that unique?

It was a mass hotelization of a place that really had a unique sense of place and not just the city but individual neighborhoods - Treme, Uptown, Garden District, Fauberg Marigny - all very distinct from one another. 

You are best speaking with an attorney about this , I am not , and taking the attorneys specific advice for your unique situation in the state that you are in . 

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!