Exactly  expecting private note funds to put out into the public their loss's is not going to happen anytime soon..

Use my last scenario a Duplex in Indiana just outside Carmel in an upcoming area investor went into contract and closed on a $175K Duplex (2) unit which had "New" renters at $1200 a door a month

I just purchased my most recent property last month by selling one of my inland single family homes for a duplex closer to the beach. 

I had to school a so called wholesaler last week on his comps, lol!

Nights, weekends, irrational/emotional clients (this last one goes just as much of owner-occupants as it does for investors).  

My husband and I have always been interested in real estate investing and have spent the last year poking around the subject.

However, take a look at your father's tax return and see how much PAL (Passive Activity Loss) may be built up. 

He was a guest on the BP real estate Pod cast over the last few weeks... 

I also went down the 203(k) rabbit hole last night and from what I can tell, they will allow you to claim 75% of anticipated rental income but that information was just from a Google search. 400 to 500k does not get you much around here unfortunately.  

I have been into real estate for the last 6 years and I love it.