Only a fraction of SFRs are used as rentals compared to everything East of the ole Miss.. and mid west .. 

@James DeRoestI think it looks just as good as being refinished and at a fraction of the cost.

Renting one of these tract modest homes is a fraction of what owners pay today.

Even if you are part of a class group, the payout is a fraction of the loss.

Then you go on to say that if you don't buy, you would rent a place with a roommate in order to cut expenses (great idea) but assuming that you can house hack and live for free or at the very least for a fraction what your rent would be, wouldn't that still be better then shelling out money for rent? 

My name is Jeffrey Cerra, I am a builder/developer moving into the stand alone fractional vacation home market.

I ve asked a couple of times for fractions my investment back and now they won’t respond to basic yes or no emails - the lack of reply angers me a bit.

Bigger Pockets has given me SO MUCH knowledge and encouragement and inspiration, so I'm hoping this podcast will provide back even a fraction of the value I've been given. 

Securities are defined by the Securities Act of 1933http://www.sec.gov/about/laws/sa33.pdfThe definition is:The term ‘‘security’’ means any note, stock, treasury stock, security future, security-based swap, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a ‘‘security’’, or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoingSo, are loans securities?

Touching on this topic of a MFR that has less than 100% occupancy:If one is trying to value a commercial / MFR property and there is a fraction of full-occupancy (71% in this example)... how does one go about valuing a purchase price?