Slowly build out a repeatable process...if you continue to change things (as in different types of properties, different levels of renovation, different finish material, different neighborhoods, etc.) you create more variables and make it harder to solve to the problem.I am a math guy and less unknowns/variables you have the easier the problem will be to solve. 

Personally looking back at it switching into LLC was a more of a headache for me and did not do much for adding a level of protection that insurance did already handle.  

It’s great to have someone with your level of experience and diverse background here.

If you have been in lending since 2007, then you know that the level of fraud in deals has risen to a huge level. 

The definition of each class is heavily weighed on the income level that tenants earn in those areas.

The best market for YOU, is the market that fit's YOU; you're situation, your preferences, you're resources, your knowledge level, you're risk aversion and about 40 other personalized factors to you. 

Reach out to @Tom Gimer at Eastern Title  Agreed Tom is / will be a good resource for higher level financing closings.

My thought was that since I was simply loaning him money and wasn't otherwise involved that that offered a level of protection as well.  

But on a conceptual level, real estate has always been better for equity than cash flow. 10 years ago it was possible to optimize for cash flow, today that is tough.

Maybe I’m wrong, but I doubt it.Again, I don't comprehend your ignorance level on some of this stuff as it is not top secret stuff, it's common knowledge for most brokers....