He also doesn’t know or understand flipping, wholesaling, note investing, or even other commercial real estate investing.

Set For LifeRich Dad, Poor DadCash Flow QuadrantThe Book on Rental Property InvestingMillionaire Next DoorThe ABC's of Real Estate InvestingFinding and Funding Great DealsBuild a Rental Property EmpireTax Free WealthTax Strategies for the Savvy Real Estate InvestorReal Estate Note InvestingThe Book On Negotiating Real EstateI have others, but those were all pretty good.  

Anybody working much with notes in Central KY?

Just as @John McSherry noted, you have to read, learn and hustle to be valuable to a mentor.

He owes about 100K on it on a 30 year note @ 3.75% and about 4 years into it.

I should add, it's a bit sticky as my up line is one of my best friends and I'm one of her largest legs.

They monitor transfers and will appeal the taxes if they suspect some thing; it is only paperwork to start the process.As well there are certain risks / issues you should be aware of;- As noted above, you have to take on the sellers original purchase cost which limits future depreciation- If there are / might be any outstanding liens, they will be yours to deal with- The tri-annual re-appraisal, is being done this year.

The differentiations I noted above are what I see as "market" verse "comp" value, although others may disagree.

It has a opportunity value of approximately 10% return for investors and that is the $1166/month I noted. $833/month for every 100K in equity.

Give each investor a separate Note and Deed of Trust.