Don, we probably have different definitions of a HML going on too, which was my initial thought, someone who lonas money for a development could well think of themselves as an investor securing their investment as a loan rather than the sharks on the streets making loans actively (LOL).

If we had to borrow loan shark money instead of using personal savings, we'd have nothing to show for our work.  

"Shark Tank" is coming up!

Remember; for every one good private lender there are 99 loan sharks.

Think of it as a 3:2 BJ table game vs pulling a $100 denomination slot.

A few rentals for a few years is more like playing a slot machine.

People are sheep, thinking of them as all logical, rational, and educated investors is foolish.Thankfully, when they crash, it makes for good deals for the sharks, condors, vultures, or whatever predatorial term you want to assign to the rest of us :)

Watch shark tank and the Profit shows on TV.

Once all of our mortgage slots are filled up, I might consider buying on a lease option, but we haven't had the opportunity, nor have I actively pursued L/O on the buy side.  

Cleveland is on my short list of potential markets as a buy and hold investor, after having researched for awhile now, it seems it's one of the few left that the margins are not razor thin with investors flocking to areas like Dallas, Jacksonville etc and that isn't a high crime high risk area like Detroit or Baltimore.