Two, if the property ever gets sued, the title holders are liable making your equity partner vulnerable.

I'd find it hard to believe that the certificate holders haven't foreclosed on their liens yet.

Pool, food & beverage and location.

You'll have tenants claiming someone ate their food, didn't clean, didn't pay, threw a wild party, broke their XBox, drank underage, moved their boyfriend/girlfriend in, snuck in a pet, and similar roommate issues.You could even have zoning issues.In my previous town, 4 or more unrelated people living together would be a rooming house, which has to pay additional sales taxes on rent as if it were a hotel.

About 50% of all restaurants close within 3 years -- not because the food isn't good (though in many cases that's probably part of it), but more because running a restaurant is not typically a core competency of a chef.I'm not saying that Terry doesn't have the skills...he absolutely might.

Forced to live with a roommate, it's constant bickering, she drank my soda, she ate my food, etc.

If there are any payments required, make sure you pay on time and the checks are deposited on times, the date deposited is the date payment was made.Now, a year later you are then ready to rfi without a cash out requirement with valid liens to be paid off.Your parents need to be as protected as any other lender, they need to be added as lien holders to your insurance policy, without a recorded debt they could be an additional insured but as a lien holder they come before you or your estate is something were to happen.Next, having the debt is evidence for interest income for thier taxes and yours as to your tax deduction, you'll have one 1099/98 with this arrangement.Don't know if you are an only child, but if anything were to happen to your parents the recorded note and deed of trust will show the arm's length transaction for any estate issue, the same for you as well.Since you're doing construction, if you had a disagreement with any labor or material supplier your parent's interest will be ahead of any other liens that could be filed against your property by filing that deed of trust in thier favor.

(Food for thought.)Continued success!

So I've begun researching purchasing notes, and found a few different threads with the suggestion of cold calling people that are in contact with note holders.

Food for thought!