Your cashflow will be minimal but not insignificant. 

I'd build it so the profit is minimal and way offset with interest and depreciation.

We're looking at potential deals and some of the agents often present very rosy scenarios of rents, coc, and minimal expenses. 

I am aware of UBIT tax and I am in the process of exploring other options on how to minimize the impact of it.4- This is the first time that I hear about equity participation note.

A large home for seniors who need minimal/no health supports with shared kitchens and bathrooms.

I certainly expect to make mistakes, but hope to minimize through mentorship from others, and what knowledge I have gained through appraisal experience. 

So it’s in your best interest to maximize profits in the rental property and minimize profits in the property management company

One thing I discovered recently is they make heavy use of the Schedule E from your tax return, so if you clean up your Schedule E (eg by minimizing repairs and maximizing CapEx and accelerated depreciation), you should be in much better shape.  

The fact that so many of these posts are from people who've never (or minimally) posted before and they are overselling it, even to the point of offering to pay for your first month, is suspicious. 

Most cases with Hard money it is temporary financing with minimal standard guidelines.