Putting people in a position where they would need to sell or come up with an alternative strategy to pay off the mortgage balance prior to rebuilding. 

Plus, Tennessee is a landlord-friendly state, which makes it easier to manage properties compared to more restrictive areas.There’s also a growing community of out-of-state investors looking at Memphis because it offers a great balance of affordability and return on investment.

The notes, being in default had an unpaid balance of $3.2million.  

Additionally, I mentioned that I had sent them a small holiday gift card as a token of appreciation (which I send to all of my tenants) and wished their family a peaceful and warm holiday season.Your insights helped me craft a response that balanced kindness with maintaining boundaries, and I truly appreciate it.

Many people choose Memphis because the market offers a good balance of cash flow and long-term appreciation.

For instance, cities like Chicago are known for landlord-tenant laws that skew heavily in favor of tenants, and that risk should be baked into your underwriting.What’s your take on balancing short-term cash flow with long-term equity growth?

I like both of your ideas so I would look for the single where an ADU is permitted or one with a dump ADU to renovate (that's best) and balance that against the purchase of a 2-4 unit.

We do all our loans as balance sheet loans, so that means short term fixed rates with 20yr amortizations and 20% down. 

As it reads, a pro-rata share is "equal to the Purchase Price of Participation divided by the Outstanding Principal Balance of the Note."

For example if you sold on year 1 on a 5 year prepayment penalty, the lender would hit you with 5% of the principal balance.