Your personal loan has a 5 year balloon period.  

Hey BP,Looking for some great websites to use to gather information on different markets, especially OOS investing...One of my personal favorites is "City-data.com", which was also suggested to me by a fellow BP investor!

My number one piece of advice is finding a group that you can attend online or in person to keep you motivated and accountable to your goals. 

If you are a person who has a full time job, or runs other companies, it is my professional opinion that you will be better served having the GC handle everything and report to you on your schedule.Once you decided to run the operation yourself, you are now employed by the development.

Private Money is simply money from a non-institutional source...such as someone lending out of their personal IRA or from their savings. 

So choose wisely and good luck I like the passive nature myself of boat and RV storage.

Where buyers/tenants can view dozens of properties in a day to screen out less desirables then schedule with a real agent to see the home in person!

I was sent an offering memo by a broker selling a multi-family building in an area no reasonable person would even consider affordable housing material yet the marketing materials made a point of emphasis to detail how the property would satisfy the need for affordable housing.

You will quickly find, as you generate local person-to-person relationships, how many opportunities open up! 

He would also be exposed to liabilities related to the property, such as lawsuits or property damage claims, which could affect his personal assets.