However, Reg D compliance actually protects the issuer as it is a safe harbor, the issuer utilizing a non safe harbor private placement exemption subjects his offering to interpretation by security regulatory agencies.All this is of little concern to the passive participant as long as he obtains full disclosureWhat is of more concern is the licensing, if any, needed to broker, manage, and service notes.Purchase of existing notes, whether residentential or commercial requires no license.

@Marty Hietsch Its north of Boston I'm not sure if that makes a difference, but yes PM me and I'll send you my number@Chris Weaver Its raw land with no utilities or sewage, but theres quite a bit of land so I think multiple houses will likely be built.

Taxes, insurance, vacancy, repairs, CapEx, shared utilities, lawn care, snow removal...At the numbers you provided, you are looking at a potential Cap Rate of 11% (assuming 50% of Gross Scheduled Rent goes towards expenses).

You can use a utility knife to cut. 

Utilize your VA  loan and purchase a multi-family property (preferably a tri/quad plex, anything more than that and you cannot use your VA loan) Live in the property for  at least 1 year (to satisfy VA requirements), while the other tenets pay your mortgage, but SAVE that money you would be paying towards the mortgage.  2.  

I've read in some forum discussions the downfall of multifamily real estate that lacks utility submeters. 

Each unit has its own electric ht/hw, so tenants pay their own utilities.

From this data, you can utilize a website bestplaces.net that will give you a breakdown of the percentage of homes that sold, in various price ranges, for a given zip code.

I was hoping for another casual interaction to make an inquiry, but the opportunity did not present itself.

(If you invest the funds elsewhere, they might be deductible elsewhere but not on schedule E for that property)    My thought was to deposit the funds directly into a segregated account and then use the funds to pay any and every qualifying expense associated with the property until the account is depleted - possibly including loan payments, taxes, insurance, utilities, management.