It was about a con artist selling musical instruments to kids and he couldn't play a note on any of them.

He's making 4% on a passive instrument and has given up the hassles of active ownership.Note  buying is a popular exercise because it's a passive way to still invest in real estate for the long term backed by a real estate asset.  

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This will show the the vested interest of the property, the seniority of the security instrument and other liens.

The security instrument attached to the note is a different animal altogether.

:) What Bill Gulley knows about financial instruments is spooky.

That is simply another form of debt instrument.  1031 would come into play if you were going to sell your properties to unlock that equity.  

Close the bank account if needed, serve him a notice (the same 60 day), i don’t see why they will still attempt to pay rent on month 3, i mean, clearly there is already intent to not renew the lease on month 3 after you serve the 60 day, the mere notice alone “should” be an instrument to prove you do not accept any further payments nor lease 3rd month’s.

@Ian Voakes If people buy furniture with a HELOC the problem is with the person, not the instrument. 

You might persuade the tenant to have it tested using an instrument from Amazon-several to choose from.