However as you correctly point out this is far more risky and or its risk capital compared to buying a income property.. but the reward can be strati-spherically higher .. not just a little bit but it can be life changing profits on some of these deals.

Makes your life as a property manager easier, and provides consistent rents coming in.

It makes a huge difference if you can solve that problem for them.If you get the sense that there's someone who will NOT leave and make life hell, then it may be worth getting out of the deal (I don't know the specifics).Good luck!

A simpler but maybe less sexy option is to give the money away until its gone.

However, if you ask me that in ten years....the city life might drive me out there! 

We did another tranche at 40 so by then he will have gone thru life by then.  

about managing rentals before you start bleeding cash and ruining your life.

Union City I tend to avoid, there are a few pockets that work for MTR but for the most part the city's rental laws make life very tough for landlords. 

Regarding control, I generally do like to have control in most areas of my life.

They all show negative COC going out at least 5 years and I suspect for the life of the loan.