I've been interested in this for so long, I don't even really remember exactly what initially peaked my interest.

In your opinion what are the Pros and Cons compared to more affordable multi-family properties (besides the initial investment size)?

This question shows some great initiative and creative thinking.  

What are some initial thoughts?

Always plan for some initial repairs.I'm not seeing any loans at 2.75%.

Once refinanced, the initial private note investment of $250,000 will be fully paid back.What made you interested in investing in this type of deal?

Asking b/c we have a SFR that meets your initial criteria.

Initially I purchased in my LLC.

We spent some time doing initial research and also some time in the prothonotary’s office.

of a larger piece of property.So when they sell they can stay together and do one 1031 exchange to purchase new property together (they will both have to be on title of the new property initially).Or they can separate and each one take their 50%.