But you will need to take time in learning the note business and how to choose notes wisely and what to do if they become non-performing.Being a debt investor in large syndicated deals could also be more passive and if you get into a good one you could get a pretty good return of 10% or more.  

The pickings are going to be really slim or non existent to find a SFH in the Ocotillio area. 

- Non-mortgage note on Uber: I have literally never seen someone actually do Uber for >2 years.

It’s called a non-recourse loan.

Hi @Jeff Oberts, here is a public one I created a while back if you want to check it out.  

Wanted to know if Freddie Mac putting out $420 million in non performing loans (first of 2018) will mean anything to mom and pop investors? 

We had to submit proof that it was listed on MLS, so that's a non-negotiable.

Only real potential unknown for me is investing in a non-elevator building and unit is on 3rd floor.

You will be swimming with sharks.

There are many ways that the IRS has deemed appropriate to allocate tax basis between building(depreciable) and land(non-depreciable).One method is that you may want to see the ratio of land/building allocations of recent homes sold in your area.