No management company involved at this point.Homes like mine are renting for around $1100 to $1200 so after a year when this prospect tenant moves out I will market the property for $1200 so the cash flow then, including a management company, will be $500.

In every Syndicated deal I have been involved in, the lender requires the equity partners to be vetted, and be a signer on the loan, if their overall ownership is above 20-25%.1.

From everything I've read so far my best bet would be to find and buy a duplex and rent half and live in half.

I am over in Huntington by Prime in Halesite and am looking to get involved in my local market.  

Then if you got the zoning change approved you will have to make 2 functional units which at a minimum will involve walling off separate sides, adding at least one exterior access point, and a new kitchen in one of them.

I fixed somebody's screw up like that before and believe me it is a huge pain and involves a lot of cost.

I think your best bet is to talk with an attorney.

Look forward to seeing your involvement.

These notes will have more due diligence involved with not only the note but also with the seller/holder than other notes, this is not where investors should begin.Due to the ripoff artists of the past in seller financing to homeowners, Dodd-Frank now covers lending by a seller of non-owner occupied homes, you'll be a lender at some point and will need a license.

Sounds like your best bet is a long term renter though - just be sure to do your due dilligence on them!