And that's a very simple example but you get the point. 

Other KPIs and considerations you should evaluate when talking to any lender who offered private placement of loans/notes are historic default rate, how quickly they can place your funds (do you get preference over their income funds, for example), average interest rate - borrower note rate and what is passed through to you, are loans serviced by a 3rd party servicer or in house.

For example,  providing a heating source for your tenant is your responsibility as the landlord. 

I'm not saying you'll be working a lot all the time, but you'll regularly have late-night questions from people checking in, for example.

Expect rates to be higher than "typical" financing programs - right now, I'd plan for at least 8%+ depending on the whole scenario. 

Perhaps you could also purchase a duplex, for example, and use personal funds for the portion that you can live in and 1031 funds for the investment portion.

Small businesses are typically valued at a multiple of SDE.

This fee is typically a fraction of the amount of a traditional security deposit.Coverage: The surety bond provides coverage for the landlord in case the tenant fails to meet their obligations, such as unpaid rent or property damage.Claims Process: If the landlord needs to file a claim, they submit documentation to the surety company.

If so is there a typical investor profile? 

Without accounting for management fees (I have not yet decided if I will try to self manage), and with planning to raise rents to typical market of $825 for each of the smaller units, and $1200 for the larger unit, does this seem like a worthy first investment?