We have 2 other single family properties in our portfolio that have performed quite nicely.

However, I think the odds of that happening are less now, for several reasons: stability of interests rate in the short term, and the disconnect of servicer's objective to keep a loan performing vs a lender who wants to call due to under market rates.

I also prefer secondary markets over top performing markets.  

Ryan I would recommend performing a MAss Save energy assessment on this building.

Do you mean good incentives for him to perform?

Reason I say that is you will not be able to re-sell a note within six months because:Month 1 is bidding, winning bid and due diligence (and maybe get it boarded) within that timeMonth 2 you would need to wait the 30 day CFPB guideline before debt collection startsMonth 3 best case get them reperforming, then to sell as a performer need 12 months of seasoning.With that option gone, you would need to get cash for keys for the property (in month 2) which still takes a few weeks to get an agreement in place etc.

I consistently earn higher than that on mutual and other income funds.What this is showing is that the property itself is earning nothing on it's own and that your cash, which is creating 100% of the returns, is under performing.

well instead of helping my clients buy performing first notes that are hard to find as it is..

In discussing the deductible expenses with my CPA, I mentioned having records for travel related to repairs I performed at the property, plus my meal receipts (the trips were entirely business related). 

There is a HUGE trust factor you must consider - not only in getting an investor to work with you, but in their evaluation of your integrity and ability to perform.