However this situation was the exception.  

Very difficult to cash flow and appreciation is out of the question except in the highest-end areas.

My BRRR strategy uses lines of credit to buy and repair, and then the delayed financing exception within 6 months of purchase through a Fannie/Freddie lender (up to 10 loans).

 Your answer is purely state specific and does not apply to many states especially Texas.Actually, it applies to MOST states EXCEPT Texas.

There may be exceptions to that, I am not sure, but if you are operating in MD then you will probably be sued in MD and MD law will likely take precedence.

If you don't impress those with money, you probably won't get it.Any commercial loan can be viewed as a bond, mortgages are exceptions, however you can still cross the line.Partnerships can keep you out of trouble, be a partner not an "investor" in your mind.Fractionalized notes, regardless of intentions of any broker or manager or even the participants, is a very dangerous path to take.

LLC's may or may not qualify for an exception to the FIRPTA withholding requirements depending on whether they are taxed as a corporation, a partnership or a disregarded entity.

I have made exceptions but not much.

That said, there are the rare exceptions, and I have been able to collect a small number of them, and a couple of my friends have done likewise.The bigger money in residential RE here in Hawaii is in one-off house flipping, and residential development.

At first glance, the walls don't look too bad (except those 3) but on even a slightly closer look, much touch up is needed.