He only wants paperwork on FMLS related transactions - and I do not owe any fees upon closings - if on a non FMLS transaction - just like any private investor purchase or sale.  

The rules are pretty complicated and the only people who really know all the terms and rules thoroughly are the Rent Levelling Board.Caveating that I’m not an attorney so go seek your own advice but I clarified a few things at a recent rent levelling hearing (which are open to the public and you can find the schedules with a simple Google).

You’re just throwing money at the government. 

Problem is it doesn’t exist as a “public” offering.  

They probably want to be certain YOU are legit.Most of the scams I've seen are by non-owners. 

Austin was appreciating faster than non-tech cities.

The "non conforming" lending options are actually called NonQM (non qualified mortgages).

Aloha is the only name that shows up in the public record as owner of the loan.Wrt whole notes, ownership of the note and mortgage/DOT is transferred to the investor via an assignment and allonge.I agree w/ @Jay Hinrichs, a 100% secured interest in the loan is safest.I haven't invested with them yet, still considering.

The narrative that these are cash flowing properties is aggressively pushed by everyone who benefits from these transactions...turn key operators....brokers....pm's but its incredibly difficult for the non hands on buyers to operate these homes for a sustainable period of time.

I know that the general guidance is that emergency funds aren't to be invested, but given our financial security and the fact that we already have a personal e-fund in a safe, non-volatile location, would it still be crazy/unwise to invest this 15k in an S&P500 index fund in a brokerage?