I would say the cost if it does become an issue could be high but that is a call you have to make. 

That's a ridiculously high insurance premium. 

I would also highly recommend you educate yourself on New York State tenant/landlord law, especially if you plan on self-managing.

That would piss any person off even in the high income realm.

The cost of eviction is really high in NYS, the cost of mismanaging an asset is even higher. 

To get accurate and up-to-date advice tailored to your situation, it's highly recommended that you consult with a qualified tax professional who can review the specific details of your syndication investment, your financial situation, and the applicable tax rules to provide accurate guidance.

Less than a week later, despite record-high interest rates, they received an all-cash $1.825M offer from a 1031 buyer and immediately accepted.

Yeah there's money to be made, but at what risk, and o yeah drunk people at the beach pose a high risk.

I am planning to move this summer and really want to put my house up as an MTR given the high demand in Wilmington, NC!

Highly unlikely anyone would be able to buy that particular note, and if they could, it wouldn’t necessarily be at a discount.