In some cases i believe this to be true.  

However, I'm looking for 10+ years for a reason.  1) The first few years post Bubble anyone could buy low end properties almost anywhere, and 2) Repairs, vacancies and capex don't really show their true (costly) colors until year 10+.How far away are you from the properties and who is doing the management?

depends on the true cap rate of the rental vs the interest rate of the note & the LTV of the note (50% LTV would almost guarantee that you would receive the interest rate  on the note).  

I have an amazing wife and beautiful 9mo old little girl. 

If anyone could help it would be a true blessing.

I must admit Robert Kyoasaki created that shift in my life to where I wanted to become a successfull real estate investor, but my true education come from BP, and the books BP and some of its guess recommends (J scott books are awesome, Brandon Turner books, the BP how to guide , etc) you are in the right place to receive  the correct information in order to become a savvy real estate investor

However, when I see what I consider an inexperienced team try to raise funds last summer on one portal (and fail) pop up on yet another portal nine months later, with the same "experienced sponsor" mantra, something is amiss.Don't get me wrong, I think there is a need for CF and it will continue to grow and offer opportunities, but what you said rings very true. 

Or if you take title on a quit-claim, you're getting whatever interest that seller had, along with any clouds on that title.Most common way is to have a traditional closing that clears title and pays off any liens, issues a title policy, and gives you true marketable title - that is only encumbered by whatever you have encumbered it with (mortgage, trust deed, UCC 1, Promissory note, etc.)If you don't / can't go through traditional title (say for example, you buy at a tax foreclosure sale), I'd say it's best practice to go through the quiet title process.  

Beautiful area.

This is true; on Sunday I trawled through Wal*mart looking for something to buy.