Now, the note holder has issues defending against all the shades of grey of use of funds, collateral, actual business conducted, etc.  

Nothing is guaranteed to happen but owning an office unit in a condo building over time they may or may not have appreciation but the gains if any are usually smaller.I do not see the office I own as a huge investment or money maker but a place I conduct business.

For the past 7 months I have been conducting research on real estate investing.

So you might want to read on these articles/threads:How to Effectively Conduct Joint Venture Agreements as a Real Estate Investor596231-how-do-i-properly-construct-a-purchase-with-a-partnership591376-create-an-llc-for-first-partnership-best-way-to-do-so526244-taking-on-partner-s-and-limiting-our-liabilitesSecond, @Dustin Beam and @Thomas S. and are correct in the strict sense of your question - no tax advantage.

However, if you’re willing to put in the work and conduct the necessary research you can probably get a higher ROI in real estate than you can in the stock market!

Most mortgage shoppers are hung up on getting the lowest possible interest rate.

Hi, yes Chuck, you need to do some thinking about how you want to conduct your business.

Also, for example, know that there are Tax Sales conducted in which you can purchase properties, subject to NO-REDEMPTION PERIOD.

LOL - I'd say she's virtually guaranteeing that result if she continues with her conduct.  

For insurance and liability, we don't allow any business to be conducted out of our units.