An example in my experience would be a local/regional foundation with a mission that is aligned directly or indirectly with Affordable Housing AND a longer-term investment horizon with less of a focus on the financial return and more on the "social" return for the community.

My investor clients are typically happy with a small return right now but are buying on the idea of refinancing and getting future higher cashflow, principal paydown, and appreciation. 

The returns have been about 7% or 16-21,000/year NET on my properties.

This way you learn and make a return on your money.

Be of value and value will find you in return.

Why not buy more expensive assets so you have same returns with less doors?

@Maynhia Stott If your focus on high interest rate is solely for getting a higher rate of return on redemption, then I think you would want to emphasize penalty states because many of the states you mentioned, like Maryland, would only yield that high interest after the 12th month.

As far as I know, it generally doesn't work in the US anymore as you describe now that interest rates have returned to a normal level.I totally agree with @Henry Clark that, if I want to invest in Italy, I want mass tourism and STRs.

Cash invested: $40,000 Sale price: $205,000 Strategic Market Pivot: From Long-Term Rental to High-Yield Fix and FlipThis property was strategically transitioned from a single-family long-term rental (LTR) into a fix-and-flip project after analyzing market trends and identifying a pivot that would yield better long-term returns.

Quote from @Chris Seveney: Quote from @Jay Hinrichs: few things if these are sold to homeowners were the dodd frank rules rigidly followed when you did these.if they are sold to investors then DF doe not come into play.while credit and such matters keep in mind note buyers will want a 12 to 20% or more annual return..