I've been listening to the BP podcast and reading up on RE investing for almost 6 months now and I feel ready to jump in, but I'm hesitant with the current sentiment about rates.I'm looking to invest both in and out-of-state here in Vermont.

@Henry Clark in step 1, what is the numerator of the ratio?

You probably need to listen to Dr Joe who specializes in this.

Read the forums here, but even more importantly, listen to all the BP podcasts - the main RE one, Rookie, Money, and On the Market.

I’ve got numerous other examples.  

The manager has worked there for over 37 years and said she has never heard of anything like this before, but she was willing to listen, learn something new, and work with me. 

@Steven DeHart I'd start off listening to the podcasts and gaining as much knowledge as possible.

If you go to invest in the note space I strongly recommend you do a quick background check on the sponsor as there are numerous who have very questionable pasts.

My interest was sparked this summer after passively listening to a free version of "Rich Dad, Poor Dad" while doing home reno projects around the house.

Search BP for ADU appraisals to encounter numerous examples.