Apparently it was a $41M bond program in the state of Texas.

And even turnkey properties are more hands-on, than stocks or bonds (but with a WAY higher upside). 

@Bo Bond - Thank you for your experienced advice. 

In addition, several states are changing this very element of the law.California has pending legislation right now to allow surety bonds in lieu of a security deposit, which is essentially an insurance fee protecting the full amount of the deposit instead of charging the larger deposit amount.www.SureDeposit.com out of New York is leading this charge and I expect that other states will follow shortly--I chatted with their CFO over the weekend about this very topic.

@Jonathan DicentThere is one thing that exists - It’s called a treasury bond.

Is there a specific equity, bond or index that we're comparing REI to?  

In the last month, I've noticed some indicators that suggest a potential correction is coming soon: the Bay Area market turning a little bit in favor of the buyer (but wonder if that's just seasonality) and there has been a lot of chatter in the equity/options/bond investor circles of a yield curve inversion quickly approaching (key indicator of approaching recession). 

All successful businesses essentially operate on the same model, whether they sell stock in their company to raise capital, issue bonds, find startup investors, or just go down to the bank for a loan.

CD, bonds, savings accounts, etc. and the stock market seems way overvalued and trading sideways at the moment so I don't see much opportunity there for the medium term.My net worth goes up every month with appreciation and I have cash flow coming in.

Tell you what - I'll do you a favor at no charge - send me their State and License #s, their Bond Info, their Liability Insurance Policy(s), their Worker's Comp Policy and a copy of their last proposal to you.Being licensed since 1982, I have more than enough experience to vet these guys for you and tell you all about them.