Overall a great reminder that this is a Spreadsheet business and that the way you eat an elephant is one bite at a time!

She needs to grow the nest egg and gain some experience first.She could always buy 2-3 notes with the $50K and then turn the non performing notes into performing loans with loan modifications and see a 20% return or greater by becoming the bank and not dealing with the headache of toilets and tenants.

The 15 year loan eats into my cash flow quite a bit but of course allows for greater equity build up.

In this case you really want to vet out the person, but can be a way to grow the nest egg fairly fast.

They can inspect before committing but not after tying it up (or if they do a more intensive inspection they can walk and eat the deposit).

Wait three days for eggs to hatch and spray again. 

I hang around that area once in a while, there's some good eats in that area.  

Have your cake and eat it too...

Condos in this range can be in more stable areas, but then of course you've got COA fees which will eat somewhat into returns, but does make capex replacements somewhat easier. 

We're now into August and they're still there and they pay like clockwork.Had I given them the notice, they would be gone and I'd have had to eat a month's worth of vacancy plus the make ready costs.