Account Closed is also correct in that it has the flavor of a one property REIT.  

@Matthew Stoughton There is a BP Meetup sponsored by the wildly handsome and distinctly articulate @Phillip Dwyer in Henderson next week, 1-30-14, 7:00 PM at nacho Daddy's just off the 215 and Easter.

  ;)I'm guessing that you've got some flavor of whole-life insurance that will, some day, provide income to you.  

What would be the best way of:a)  Purchasing a property for $100Kb)  Purchasing a note for $100Kc)  Buying a property to flip for $75K and put $25K into repairsCan I use personal and 401K funds in the same investment as long as there is a clear distinction between the two?  

Welcome ThomasYou certainly getting the flavor of different parts of the US

Donald on BiggerPockets, we're not politicians here.I happened to be of the opinion that interest earned by professional private lenders or hard money lenders is ordinary income for their lending businesses (as in "in the business of lending money"), as distinct from portfolio income on passive investments and casual loans.Eamonn - please correct me if I'm wrong and explain how would you classify the income and expenses of a HM lender, let's say operating as a partnership. 

., all have very distinct issues that need to be addresses and resolved if the underlying investors want to go separate directions with different goals and objectives in the future (such as a 1031 Exchange). 

I would make the distinction between a high crime area and an area that has been abandoned with row after row of abandoned properties slated for demolition however both would have challenges to an investor.

Because Texas with its distinctive culture and its size, is a very influential state in the country n it tilts to the right n liberals don’t like competition, so they would love to have Texas go the way of NY and CA, they would love other states too but Texas is the big prize.

If this has inspired anyone to look further into the program, there's one more important distinction between the two programs: ease of recruiting tenants.