The administrative headaches that come with multiple small investors cannot be understated.

A senior lien holder with a non-performing loan will generally be in a non-accrual status after notice, depends on redemption rights under state law.

Notes are in finance and banking under state and federal laws primarily, there are real estate overlaps such as TILA, but notes are not a RE matter, there are notes with personal property, cars, machinery, airplanes, boats, and "commercial paper" or obligations fall under financing matters.

The owners have the power under state law to remove officers or directors.

But you are really understating the risks of ownership.

Expenses are often greatly understated and properties frequently marketed significantly above market value.

Penny wise and pound foolish.Hire a contractor that will pay you or credit you for work you can do;But, you must do it correctly,do it on time as required,not do something that hangs other subs waiting for you or getting in their way,And, get a 1099 because if you don't you'll be overstating your flip income and understating your earned income.

We currently live in SD and although we are brand new to REI, I am quite hesitant about looking for any deals to flip or rent here because of the high cost of entry (and the fact that CA is such a tenant-friendly state -- the importance of which, cannot be understated in my previous experience).

It may be under state laws, many states add additional protected classes.There are seven "Protected Classes" under federal law.

Collection efforts with a borrower cease after a foreclosure, the lender has acted to secure the collateral, however under state law they cannot just let a foreclosure hang in limbo, they are to act in a timely manner.