I would second @Tom S. and consider house hacking a small multi at your age. 

Managing a lot of single-family rentals is different when you are in your 30s than when closing on retirement age, so you can always sale your appreciated portfolio and deploy that capital into a more passive play or start doing that when you think it's appropriate for you.Good luck 👍🏾👍🏾👍🏾 

The age of the notes means I wasn't worried about previous liens, and jr liens would be cleared by the foreclosure. 

Cameron,How cool that you're doing this at such a young age! 

It's the Law of Reciprocity - you get what you give.Best of luck to you starting out, whatever your age!

 ( he puts guys 1/2 his age to shame ) .

If I was in your position at your age, I would want to build even more equity now and consider cash flows deals later. 

Given his age, he already has trouble going up and down the two-story stairs, so waiting longer would mean the guy would just be further entrenched.At the end of March I certified-mailed him the Non-renewal notice with a move-out checklist, and regular snail-mailed him the same thing two documents just to be sure.

you say he is older, make sure there is no tax freeze and that his tax are not lower because of his age and income.

Whenever I take over someone else's building, esp working class (which I would assume this is by the cap rate), I like to estimate first year expenses of 20-25 as well for maint/repair/capex... but I would vary it based on the age of each component and the cosmetic condition of all units w special attention paid to kitchens and bathrooms.