I convinced him that rental real estate was our way to a secure future.

This was our first deal... and it was hard withdrawing the from the other house (I kind of got attached to "our" first investment property... even though we never officially bought it!).

You missed a BUNCH of the expenses, such as damage done by tenants in excess of the security deposit, advertising, entity maintenance, legal fees, evictions, lawsuits, office supplies, etc, etc, etc.Throughout the United States, operating expenses run 45% to 50% of the gross rents.

It seems like most banks do not lend on notes secured by land.

Otherwise, they are tempted to think that they've already paid the last month's rent and that they simply don't need to pay the rent the last month.I NEVER sign the lease with a tenant or allow them to have the keys until I have gotten both the rent AND the security deposit IN FULL AND IN CASH!

By that time, another wholesaler, who contracts sight-unseen, will secure it, leaving me out of the deal.

Why not put it into an investment that is secured by income-producing real estate, partially guaranteed and that will deliver a high level of monthly cash flow (12% starting cash-on-cash return) and deliver a 50% return in two years?

For example thru WIC or food stamps or unions or welfare or unemployment or social security or healthcare etc.

The higher the value of assets that you can put up as security on the loan, the the lower your credit score can be to qualify for a loan.There is no magic loan dollar value when banks stop caring about the credit of the individuals or corporations they are lending to.

They need security for the job as well.