I don't think the market will continue to appreciate as it has over the past few years and that equity isn't something I can realize until I sell the property which I don't plan to do. 

Try being an agent, your phone number is EVERYWHERE and you get targeted by a whole industry that wants to sell you the latest gimmick.Here is what helped me.I answer calls and when it's a telemarketer I will interrupt them and say very friendly (because I don't hate the poor person who gets paid to do this and coached to be ruthless): Hey, so glad you called, can you do me a big favor? 

Similar to what Patrick stated - most have ITINs and have seen a lot of loans like that and those are sold many times on secondary market. if not I know people who still originate I would say they are tougher to sell on secondary market but there are still buyersRe: jay comment - price of notes has doubled over past five years on many loans - especially defaulted or loans with some hair too them. 

I just heard a strategy of selling points instead of buying points.

Is your client building to rent, or build to sell? 

You are only adding complications and costs with the LLC with no upside  This is all assuming there’s been almost zero appreciation and you shouldn’t sell tax free while you have the chance. 

Additionally, I would suggest you run some financial calculations such as cash on cash return as well as any appreciation from the asset if/when you sell.

I almost exclusively work with investors and business owners in buying and selling in Baldwin County. 

I ended up selling my property to wash my hands of it.

I have never seen a quadplex in Los Feliz / Silverlake sell for less than $2.00M.Now I did get a good deal on the house because it needed a lot of work, all in all will probably end up spending $500K between the ADU and the renovations (hopefully).