If you want less risk it's not for you. the cost of capital right now is forcing some to get deals at par and hope for appreciation (due to inflation). this works if you have other income to offset. 

As a lender (aka “Maker”) to Norada, you are a valued member of the Norada family.The purpose of this correspondence is to provide you with an update on the repayment under the terms of the promissory note (“Note”) as an obligation of Norada Capital Management, LLC (“Norada”).As with all businesses, Norada is subject to market factors that could impact its ability to make payments.

It really forces the syndicator to be more conservative in their underwriting. 

How does this impact cash flow compared to states with lower tax burdens?

An entity that operates hundreds or thousands of apartment units has far less concentration risk than an owner of a few rental homes, whose tenants may all be impacted by COVID-19.Do you think Portland’s ten-year trend of positive economic growth for landlords will continue, or will it flatten out, possibly even declining in the wake of COVID-19?

House-hacking by room is a topic that pops up when we're late in the real estate cycle; in tier 1 areas multifamilies available are scarce or priced unreasonably so one is 'forced' to rent rooms instead of multifamilies.Things to consider:1) Exit strategy - are you forced to live on site and manage it? 

In short, he could simply not return the money or the profit by saying that he had reasons of force majeure, without clarifying any additional details.

You can also sell them on sites like paperstac, debexpert or others as well as brokers like Mission Capital, Rams or Phoenix.Depending on quality of paper and interest rate will determine sales price - also I would say self servicing can have a negative impact on the sales price as the major players in the space are not fond of self servicing. 

Forcing appreciation is possible, but you must be very strategic about how you renovate.

Or will I be forced to pay to de-convert the unit before I can do any other renovations?