Common lending tools for rentals
What are some common investment devices for rental properties?
My understanding is that if you issue a promissory note longer than about 7-8 months it's considered a security, something I don't want. However issuing a promissory note at 10% for 7-8 months sounds like a lot of money to pay in that amount of time.
These would be friends and family lenders so I know that that has some sectionsb in the securities laws but my understanding of securities laws isn't quite up to speed so please fill in the gaps where necessary thanks.