If they want, they can basically pay the first month's rent & security deposit, move in, then say, "Yeah, we're never giving you a dime again.  

This is an "ad platform" model, and the one many project-driven issuers are using as it is exempt from all regulation (the offerings themselves still have to comply with SEC rules and state securities dealer laws, but the portal itself is free from oversight so long as it conducts business legally).There is a lot of internal industry debate about which is the best and there is disagreement among securities attorneys knowledgeable in the space about what is required.  

Not to me.True I am more 'invested' than one who just buys a business or paper security, but I can add value and have the satisfaction of ownership.  

Establish a security deposit5.  

This is similar to, but not the same as, the yield of beans in China, since China is the most populated nation on earth and the yield is much higher, (which is due to the poor air quality in China and why bean consumption is regulated) with the yield or output being much more concentrated over time.And, why hard money lenders usually don't chase tax liens in Texas, nor do they develop lists for investors to purchase with their funds as they rely more on the security interests in a property rather than a UCC filing.   

Once I felt comfortable enough I secured the property with a deposit and plan to take a day trip to visit it in person and meet the manager. 

@David Shapiro, It's not a taxable event because you are simply borrowing money secured by your property. 

Obviously we have been in touch with our lodger who filled us in on the scoop but I was surprised to find very little info on incarcerated California lodgers, does NoLo address this and in either case what are the obligations of the owner(s) who rented to the lodger who is now incarcerated indefinitely as far as security deposit, notification of repossession of rented premises, and the handling of personal belongings? 

"Attend your local REIA clubConnect with a decent local real estate investor agentBuild a decent real estate investing teamCory podcast regarding multifamily house hackingStudy Brandon Turner threads regarding house hacking My suggest would be ( 90 day plan ) :~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~-> 1st month review Askbp podcast at least twice( located under the " learn " tab )attend your local REIA club meetingssteady paying down your debt-> 2nd monthreview all weekly Podcasts at least once( located under the " learn " tab )attend local REIA club meetingsStart building your investing real estate teamDetermine your local areas for potential investingenjoy the holidayssteady paying down your debt-> 3rd month slow up on attending your local REIA club meetingsremove dead weight from your real estate investing teamStart taking actionenjoy the holidayssteady paying down your debt-> 4th through 12th monthsKeep taking actionSteady improve your real estate investing teamsteady paying down your debt

Some items, like investment securities, were exempted from the beginning, but for the most part it would be very difficult for Congress to exclude all forms of tax free like kind exchanges without having structural consequences to the tax code.It may be possible that the NAR article was saying that real estate professionals may not want to bother with these deals.