Tax liens are another low-dollar asset in the alternative asset space, but the time invested in finding and acquiring good liens can be significant.

I've explored RentecDirect a little bit as an alternative.

Is this a dead deal now, or is there an alternative way around this?

However, the alternative is really expensive.

Trust deed states are much safer to loan in than mortgage states. when POL started they were in NJ and FLA two of the toughest states in the country to foreclosure and corral your collateral in.. most investors not knowing what they did not know .. just did not know the dangers of investing in mortgages in those states were... sorry.

So I consider this a huge success in comparison to the alternative.

Alternatively, you could form an Ohio LLC.

I think that this could work, assuming you have AT LEAST one, but preferably two alternate exit strategies in place in case something happens and this guy cant honor his commitments. 

I was thinking of setting up this product - https://adr-products.com/You can get one on Amazon for $48.00 and it seems like a decent alternative.

Buy an apartment building, rehab the vacant units, and sell property once fully stabilized (with an alternate exit strategy of refinancing with a commercial lender).The acquisition and construction will be financed by private money, the renovations performed by a GC, and the property listed and sold via a traditional agent.