This is the same way they buy growth stocks, which do not generate dividend income. (3) I am not worried about their unloading.

The investment in real estate must also be compared against investment with risk of similar scale, such as investment in stock market.

Just as in recommended stock market allocation, individuals should seek less risk (i.e., less leverage) as they get closer and closer to retirement. 

Even when you approach someone that had invested before in the Stock Market, we can not forget that the market is very regulated in terms of disclosures and regulations, and if anything adverse happen, the stock broker is a Licensed Securities Broker. 4.

If you look at the definition of a security here:www.sec.gov/about/laws/sa33.pdfyou find:(1) The term ‘‘security’’ means any note, stock, treasury stock, security future, security-based swap, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a ‘‘security’’, or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing.I've highlighted some of the terms that could refer to a loan.Now, like Corey Dutton I don't really think the SEC trolls craigslist looking for these ads.

One thing to keep in mind is that if you are investing in an REIT, you must compare it to investing in any other STOCK.

Many who got out before the crash made a bundle but many others lost everything.I remember this happened with the tech bubble in stocks years ago.

I may have blinders on but it seems riskier than buying a property and managing it myself.That said, I have tried to think of notes as similar to stock.

Any other assets - bank accounts, stocks, bonds, or mutual funds that you can sell quickly?

It kinda reminds me of the time when the stock market realized that people were investing with borrowed money, or several years ago when the interest only ARM was a product to help keep unrealistically high housing prices affordable.