Returns are heavily based on how levered you are. 20% down performs better than 30% down in terms of overall return.

We still handle guest communication but we have a cleaner on staff who makes maintenance/repair requests and handles supplies and orders.

I would anticipate a primarily residential to be there, but primarily commercial might be around mid-9s to sniffing 10, based on where the 10-year is and how it would cash-flow

There is no recorded lien, but that debt is attached to the title of the property and its based on not the sale price but assessed value (because of the passage of time since the death of the owner) and also based on WHO inherited.So, you buy a property at tax sale for $50k thinking you got a nice deal, BUT the heir to the property was a nephew and the assessed value is $200k.

You get a set amount for your entitlement (the amount is based off of where the property is located) and as long as you don’t go over that amount, you can technically get more than one VA loan.  

What is your exit strategy... pay me in cash based on rents or other income?  

My first property was based on a VA loan.

So based on what you know, if a beginner were to snatch up several of these 10.5% TDs over time, and experienced typical losses for a beginner, what would their net be? 

The demand is pretty high especially if you are near Hospitals and Military Bases.   

I've been a developer for 17 years on projects across the US and we do both JV deals and consulting based on what is most beneficial for all people involved.