.: The problem is the government would have to get out of the way.

Good luck talking to the non-accountants about accounting.

Think if someone like Public Storage builds next door. 

Each change took a meeting, then two different public hearings, then a Board approval meeting. 

Id say 100% of my evictions are "no money back, get out now, see you in court, get my judgement, place it on public record."

There is something to be said for knowing your ideal avatar, but you are taking on a lot more red tape and a lot less learning possibility.When you are a non-local investing out of your area, you are a mark for every deal out there.

The problem is that we start seeing public push-back from the DNS (Department of Neighborhood Services, they issue fines) and the press: it gives landlords a bad rep - the newspaper does not differentiate between OOS and local.

Just like any aspect of real estate investing, non-consumer lending at a large scale is a relationship business. 

Even if the sponsor lacking knowledge and experience can raise capital through syndication, their life will become a living nightmare of lawsuits, hostile social media posts, public ridicule, accusations, legal threats.  

If you register but do not have a registered agent they can often serve you by publication, or perhaps by serving the Secretary of state or any of several ways that might result in you not knowing that you have been sued.