I understand that an advantage of note ownership is that its typically viewed as a more passive investment (no 3am toilet phone calls) and that is what attracts me to this concept. 

@Alexander Robert Wondoloski- thanks - there should be no prepayment penalty on his Mothers FHA loan . 

I have been sniffing around for nearly a year and a better understanding of the area rental market.it seems long term rentals are no go as there are so many competitors and rent could go as low as 850$.

The properties are a large capital investment but with no new developments around the late the appreciation is strong. 

@Matt DornakWhat is the specifics- If it’s selling a property to buy another there could be programs that work but other than that, no owner occupied loan to delay financing

The idea is to replace them for a few bucks if they get damaged, but we have next to no issues with countertops.

Let’s assume there are no better choices of prospects.

Strategy is to continue to using the BRRR method, but I am doing it using my VA benefits which allow me to purchase for zero down no PMI.  

I have been offered 32 unit Mini Storage. After closing cost  I’ll be at 250k. built in 2017. 
2600.00 MO income. rents can be raised some not much right now. 80% LTV I’ll be out of pocket 54,000. 
My thinking is th...

First year no PM cost.