Looking at my first property and there is a severely intense odor in the basement (concrete) and some slight orders on the other levels of the house as well (hardwood floors and carpet).

Most important is getting a RE knowledgeable CPA who knows to outsource the calculation-intensive work involved in a quality engineering-based cost segregation study.  

The larger retail centers are more management intensive.

Not to mention that this is typically more time intensive and is more closely related to having a second job, than it is to investing.  

The primary test used to determine whether an instrument is a security is the Howey Test, which originated from the Supreme Court case SEC v.

Any well-run NOO STR close to the nightlife/universities/sporting events does well, along with medium-term rentals for travel nurses, people giving Nashville a "test run", etc.

I’m new to the note investing space and want to start off with buying a partial note to test the waters.

Perhaps a tool like this could help spot supply-demand imbalances and/or misspriced lots; then those under-$40k lots (avg) could be bought & resold for 1.3-1.5x.Here's a public test of the currently listed lots, three per state, suggested by the tool:GA:- https://www.realtor.com/realestateandhomes-detail/Ralston-Ga...- https://www.realtor.com/realestateandhomes-detail/71-Laurel-...- https://www.realtor.com/realestateandhomes-detail/Aubery-Ln-...ME:- https://www.realtor.com/realestateandhomes-detail/68-Quarry-...- https://www.realtor.com/realestateandhomes-detail/9-Surry-By...- https://www.realtor.com/realestateandhomes-detail/Sunset-Hil...NC:- https://www.realtor.com/realestateandhomes-detail/Old-Crows-...- https://www.realtor.com/realestateandhomes-detail/Turkey-Run...- https://www.realtor.com/realestateandhomes-detail/Bear-Cliff...NY:- https://www.realtor.com/realestateandhomes-detail/Hemlock-Ln...- https://www.realtor.com/realestateandhomes-detail/Middlefiel...- https://www.realtor.com/realestateandhomes-detail/231-Burke-...PA:- https://www.realtor.com/realestateandhomes-detail/Purple-Mar...- https://www.realtor.com/realestateandhomes-detail/14-Pocono-...- https://www.realtor.com/realestateandhomes-detail/Billy-Ln-L...VA:- https://www.realtor.com/realestateandhomes-detail/Dillards-H...- https://www.realtor.com/realestateandhomes-detail/Egypt-Bend...- https://www.realtor.com/realestateandhomes-detail/Riverbend-...The areas where the tool "looks" were pre-screened.

House hacking is one of the most risk-averse residential investment strategies and will allow you to test the waters and strategically plan from there. 

However, they bring time-tested methods and valuable experience to the table.Younger Investors: They’re often viewed as energetic, motivated, and quick to embrace new technology.