Quote from @Jaša Rot: Hello Marshall,thank you for your reply.my idea was to sign a trust deed and promissory note with the borrower so that the loan is secured by collateral.

Glad we're secured, but nothing in rei is passive.

Depending on the application, first, last, security, and another month or two.

If it does you have zero asset/income, a much larger debt secured by your personal residence, at just the time you probably also lose your job due to economic conditions, and all those nice folks teaching you about sno ball, infinity, you’re your own bank, etc., will be long gone.  

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.

If your project qualifies for EPP (Express Permit Program), then you don’t have to secure permits in the traditional way.

To stay secure, I’d recommend saving 3-6 months of mortgage payments, budgeting for repairs, and possibly investing in a home warranty.

Agree with @Jeff Pollack on having the guts to leave the security of a JOB.

For example I have an account for each property and a sub-account just for the security deposits for those properties.