My PPR note fund investment is a little different in that you can buy some notes from PPR and pay for the PPR notes using your Fund investment. 

Leverage Other People’s Money (OPM) & SyndicationsI built most of my portfolio through syndications because I realized I didn’t have to fund every deal myself.

Quick question on those who have done seller financing:- Buying a 0.3 acre downtown fort lauderdale multi family, negotiated an around 1M price w lot of development rights, double lot. seller got it way back early 90s for pennies- got good credit 800+, w2 job etc put 40% down and mortgage bank offered 6.62% 30yr fixed (CF negative as this would make current rent roll not too much compared to the PITI)- property is in ok condition, needs 20-30k repairs which seller OKd, and all 3 tenants are month to month, pay bit under market but also ok- seller would like to do seller financing, interest only at 5.75%, 30yr amortization at 7yr balloon (CF would be positive) - id be paying some principal as well, just to grow some equity- buying this deal for the future development of the area (las olas, kushner broward crossing) so not really worried even if we overpay for it now, but never done creative finance as i always relied on a strong W2 job to get good loans but obv im used to 3% 30yr rates from covid times not this 6+ environment..Goal is to hold the property 3-5yrs, and then actually develop it or sell half the land / refinance, pull out HELOC if it appreciates.Questions:1) What does he know that i dont? 

However, with high rates, the next mortgage would be very expensive, and a vacancy would be intensely expensive with two mortgages.

Nobody knew interest rates were going to go  shoot up (and nobody knew we were going to face a global pandemic).

Underestimate the costs and come up short needing the funds?

Nightly rates, occupancy and amenities.

(Not being a vet I’m not sure of the interest rate difference but know that the 3.5% down FHA is often worse than a conventional 5% down.).

My clients are mainly real estate developers, PE funds and individual investors doing syndications and my core skill is in real estate valuation / due diligence across real estate asset classes. 

If you want to play a passive role, a real estate syndication or debt fund could be a great way to go.