Regular size.

Others will say to pay it off as quickly as possible and use the cash flow to start saving for your next property that way it's really hard for things to go south on you.If your multi-unit is residential I would recommend trying to secure a bank loan since you can get them at a low interest rate for 30 years and then enjoy the cash flow and start looking at other investments. 

If I am not able to secure financing, I will lose this deal.

Private equity backed by a promissory note is considered a “bond” which is considered a "security outside of my broker/dealer's control” which is a big no-no if I am registered with them.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Most of these homes are very poor locations and very poor condition.You need to hire someone to go out, access the property (drill out locks, install new locks, and install lock box with keys,) clear the property (many of these properties have squatters living in them,) secure the property (lock windows, fix broken/unsecured points of entry,) evaluate the home, build a rehab budget, and send over pictures and/or video.There are several GC's and home inspectors who are offering these services for the MI/OP clients.

Your money needs to be secured by a note against the property, that note had better be prepared by a lawyer in the state where the target property is and it had better be recorded.

Essentially you would not have any real involvement but full transparency can be provided so if someone could offer a guarantee on a secure turnkey rehab solution, would an investor be wise to take up this opportunity. 

No need to go nuts, but I would try to find a regular, year-long tenant as soon as you can.

I replied to him with details given below for that he was not replying so I sent him back the check and asked him to discuss and settle down my security deposit amount $1300.