Is this a form of hypothecation?

Thanks, Tim, for replying.

I read Mr. Straw's writings many years ago on this topic. I bought it through the mail. :-) I think I'll go and dig it out.

But, if I can, let me ask you: is that what I'm describing here?

Now, follow my reasoning...What's the difference between doing something like I'm describing here and taking the same money and buying paper (a discounted mortgage)? Or, buying a duplex? The income from these investments would go towards repaying my uncle too, right?

I was just trying to do the same thing with "pure paper", so to speak, in an attempt to avoid the management hassles that can come with real estate investments.

I look forward to your insights, and those of others. Please, correct my thinking if it is flawed.

Thanks again. -- Thomas