If you are syndicating or partnering with other investors to fund a Sponsor's deal and you are a company doing this (LLC, partnership) then get a PPM attorney and file with the SEC. 506B is easiest but if it is really risky...then 506C is best. 

@Damini Dutta I would definitely put some time and effort into finding out more about this company. 

I am set to close on it in about two weeks and am slightly nervous about finding a tenant in a good amount of time, given that there are a lot of similar new constructions in the same community that are up for rent but have been sitting on the market for 30-70+ days. 

Payouts would have to be set up from the sellers primary Airbnb account and you would want a contract written.

This is a good tenant of 5+ years, and I don’t want to cause unnecessary friction (I’m just trying to set up automatic systems for myself).

And, just maybe you’ve purchased at a point where Detroit has hit its low, bottomed out, and is set to reverse trend and grow.  

So back to the drawing board, but for myself the big takeaway is to continue on the course that I set out on and too continually learn and stay involved with goals that I set out on and to stay focused.

In all that time I’ve only really had one disrespectful set of tenants who were significantly different from the mainstream both culturally and in terms of their religion.

Eric,, I think why people go for the fund model is the idea that they are spreading their money into multiple notes being held by the company.. while in theory this is great but as you noted you don't really have any security compared to being the beneficiary of the debt instrument IE debt is in your name. 

My thought is to take a compiled list of property addresses saved in Excel and then run data scrape from Zillow and Redfin on each of those addresses, pulling the property details back into excel and into the appropriate table I have set up.