SECURED INCOME L P
SC 13G/A, 2000-10-11
REAL ESTATE
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                               Amendment No. 1 to
                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934

                               SECURED INCOME L.P.
                     ---------------------------------------
                                (Name of Issuer)

                      Units of Limited Partnership Interest
                     ---------------------------------------
                         (Title of Class of Securities)

                                      None
                               ------------------
                                 (CUSIP Number)

                               September 27, 2000

       -------------------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)

Check the  appropriate box to designate the rule pursuant to which this Schedule
is filed:

        [   ]     Rule 13d-1(b)

        [ X ]     Rule 13d-1(c)

        [   ]     Rule 13d-1(d)

*The  remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for any  subsequent  amendment  containing  information  which  would  alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the Act
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).


                       (Continued on following pages(s))


<PAGE>



                                 SCHEDULE 13G

--------------------------------------------------------------------------------

1)   Name of Reporting Person
     I.R.S. Identification Nos. of above persons (entities only)

MP INCOME FUND 11, L.P.
MP INCOME FUND 12, LLC
MP INCOME FUND 16, LLC
ACCELERATED HIGH YIELD INSTITUTIONAL INVESTORS III, LTD.
ACCELERATED HIGH YIELD GROWTH FUND II, LTD.
ACCELERATED HIGH YIELD INSTITUTIONAL FUND I, LTD.
PREVIOUSLY OWNED MORTGAGE PARTNERSHIPS INCOME FUND 3
MP-DEWAAY FUND, LLC
SPECIFIED INCOME FUND, A CALIFORNIA LIMITED PARTNERSHIP
MACKENZIE PATTERSON SPECIAL FUND, LLC
MACKENZIE PATTERSON SPECIAL FUND 3, LLC
MACKENZIE PATTERSON SPECIAL FUND 5, LLC
MP FALCON  FUND,  LLC MP VALUE FUND 4, LLC MP VALUE FUND 5, LLC MP VALUE FUND 6,
LLC MACKENZIE PATTERSON, INC.
--------------------------------------------------------------------------------
2)   Check the Appropriate Box                    (a)  [ X ]
     if a Member of a Group
     (See Instructions)                           (b)  [   ]

--------------------------------------------------------------------------------

3)   SEC Use Only

--------------------------------------------------------------------------------

4)   Citizenship or Place of Organization

MP INCOME FUND 11, L.P.                                      California
MP INCOME FUND 12, LLC                                       California
MP INCOME FUND 16, LLC                                       California
ACCELERATED HIGH YIELD INSTITUTIONAL INVESTORS III, LTD.     Florida
ACCELERATED HIGH YIELD GROWTH FUND II, LTD.                  Florida
ACCELERATED HIGH YIELD INSTITUTIONAL FUND I, LTD.            Florida
PREVIOUSLY OWNED MORTGAGE PARTNERSHIPS INCOME FUND 3         California
MP-DEWAAY FUND, LLC                                          California
SPECIFIED INCOME FUND, A CALIFORNIA LIMITED PARTNERSHIP      California
MACKENZIE PATTERSON SPECIAL FUND 5, LLC                      California
MACKENZIE PATTERSON SPECIAL FUND, LLC                        California
MP FALCON FUND, LLC                                          California
MP VALUE FUND 4, LLC                                         California
MP VALUE FUND 5, LLC                                         California
MP VALUE FUND 6, LLC                                         California
MACKENZIE PATTERSON SPECIAL FUND 3, LLC                      California
MACKENZIE PATTERSON, INC.                                    California


<PAGE>



--------------------------------------------------------------------------------

Number of Shares
Beneficially Owned
by Each Reporting
Person with :

(5)  Sole Voting Power

None

(6)  Shared Voting Power

None

(7)  Sole Dispositive Power

None

(8)  Shared Dispositive Power

None

-------------------------------------------------------------------------------

9)   Aggregate Amount Beneficially
     Owned by Each Reporting Person

None

--------------------------------------------------------------------------------

10)  Check if the Aggregate Amount                                          [ ]
     in Row 9 Excludes Certain
     Shares (See Instructions)

--------------------------------------------------------------------------------

11)  Percent of Class Represented
     by Amount in Row 9                                                      0

--------------------------------------------------------------------------------

12)  Type of Reporting Person
     (See Instructions)
                                                                  Type

MP INCOME FUND 11, L.P.                                            PN
MP INCOME FUND 12, LLC                                             OO
MP INCOME FUND 16, LLC                                             OO
ACCELERATED HIGH YIELD INSTITUTIONAL INVESTORS III, LTD.           PN
ACCELERATED HIGH YIELD GROWTH FUND II, LTD.                        PN
ACCELERATED HIGH YIELD INSTITUTIONAL FUND I, LTD.                  PN
PREVIOUSLY OWNED MORTGAGE PARTNERSHIPS INCOME FUND 3               PN

                                       2
<PAGE>



MP-DEWAAY FUND, LLC                                                OO
SPECIFIED INCOME FUND, A CALIFORNIA LIMITED PARTNERSHIP            PN
MACKENZIE PATTERSON SPECIAL FUND, LLC                              OO
MACKENZIE PATTERSON SPECIAL FUND 3, LLC                            OO
MACKENZIE PATTERSON SPECIAL FUND 5, LLC                            OO
MP FALCON FUND, LLC                                                OO
MP VALUE FUND 4, LLC                                               OO
MP VALUE FUND 5, LLC                                               OO
MP VALUE FUND 6, LLC                                               OO
MACKENZIE PATTERSON, INC.                                          CO

--------------------------------------------------------------------------------














                                       3
<PAGE>



Item 1.
------

     (a) The name of issuer as to whose  securities  this  statement  relates is
Secured Income L.P., a Delaware limited partnership (the "Issuer").

     (b) The  address of the  Issuer's  principal  place of  business  is 599 W.
Putnam Avenue, Greenwich, Connecticut 06830.

Item 2.
-------

     (a-c) MP INCOME  FUND 11,  L.P.;  MP INCOME FUND 12, LLC MP INCOME FUND 16,
LLC; ACCELERATED HIGH YIELD INSTITUTIONAL  INVESTORS III, LTD.; ACCELERATED HIGH
YIELD GROWTH FUND II, LTD.;  ACCELERATED HIGH YIELD  INSTITUTIONAL FUND I, LTD.;
PREVIOUSLY  OWNED  MORTGAGE  PARTNERSHIPS  INCOME FUND 3; MP-DEWAAY  FUND,  LLC;
SPECIFIED INCOME FUND, A CALIFORNIA  LIMITED  PARTNERSHIP;  MACKENZIE  PATTERSON
SPECIAL FUND, LLC; MACKENZIE  PATTERSON SPECIAL FUND 3, LLC; MACKENZIE PATTERSON
SPECIAL FUND 5, LLC; MP FALCON FUND, LLC; MP VALUE FUND 4, LLC; MP VALUE FUND 5,
LLC;  MP VALUE  FUND 6, LLC;  and  MACKENZIE  PATTERSON,  INC.  (the  "Reporting
Persons") are the Reporting  Persons.  Each of the Reporting  Persons other than
MacKenzie Patterson,  Inc. is a private limited partnership or limited liability
company  engaged in real  estate  investment  and each is  managed by  MacKenzie
Patterson,  Inc. The principal  business  address of each is 1640 School Street,
Moraga,  California 94556. The state of organization of each Reporting Person is
set forth in Item 4 on the cover page opposite its name.

     (d-3) The subject securities are the Issuer's Units of limited  partnership
interest ("Units"). The Issuer does not have a CUSIP number.

Item 3. If this  statement is filed pursuant to Rules  13d-1(b),  or 13d-2(b) or
------ (c) check whether the person filing is a:

         (a-j) Not applicable.

Item 4.  Ownership.
------   ---------

     (a-c) As of the date of this  report,  the  Reporting  Persons  sold all of
their  beneficial  ownership in the Units,  and  currently  beneficially  own no
Units.

Item 5.  Ownership of Five Percent or Less of a Class.
------   --------------------------------------------

         If this statement is being filed to report the fact that as of the date
hereof the  Reporting  Persons have ceased to be the  beneficial  owners of more
than five percent of the class of securities, check the following [ X ]

Item 6.  Ownership of More Than Five Percent on Behalf of Another Person.
------   ---------------------------------------------------------------

         Not applicable

Item 7.  Identification and Classification of the Subsidiary Which
------   ---------------------------------------------------------
         Acquired the Security Being Reported on By the Parent Holding
         -------------------------------------------------------------
         Company.
         -------

         Not applicable.

                                       4
<PAGE>



Item 8.  Identification and Classification of Members of the Group.
------   ---------------------------------------------------------

          Not applicable.


Item 9.   Notice of Dissolution of Group.
------    ------------------------------

          Not applicable.

Item 10.  Certification.
-------   -------------

     By signing below,  each of the  undersigned  certifies that, to the best of
its knowledge and belief, the securities referred to above were not acquired and
are not held for the purpose of or with the effect of  changing  or  influencing
the control of the issuer of the  securities  and were not  acquired and are not
held in  connection  with or as a  participant  in any  transaction  having that
purpose or effect.

                               SIGNATURES

          After  reasonable  inquiry and to the best of the knowledge and belief
of the undersigned,  we certify that the information set forth in this statement
is true, complete and correct.

Date:  October 10, 2000

MP INCOME FUND 11, L.P.

By MacKenzie Patterson, Inc., General Partner

         By:      /s/ Christine Simpson
                  ---------------------------------
                  Christine Simpson, Vice President.

MP INCOME FUND 12, LLC

By MacKenzie Patterson, Inc., Manager

         By:      /s/ Christine Simpson
                  ---------------------------------
                  Christine Simpson, Vice President

MP INCOME FUND 16, LLC

By MacKenzie Patterson, Inc., Manager

         By:      /s/ Christine Simpson
                  ---------------------------------
                  Christine Simpson, Vice President

                                       5
<PAGE>


ACCELERATED HIGH YIELD INSTITUTIONAL INVESTORS III, LTD.

By MacKenzie Patterson, Inc., General Partner

         By:      /s/ Christine Simpson
                  ---------------------------------
                  Christine Simpson, Vice President.

ACCELERATED HIGH YIELD GROWTH FUND II, LTD.

By MacKenzie Patterson, Inc., General Partner

         By:      /s/ Christine Simpson
                  ---------------------------------
                  Christine Simpson, Vice President.

ACCELERATED HIGH YIELD INSTITUTIONAL FUND I, LTD.

By MacKenzie Patterson, Inc., General Partner

         By:      /s/ Christine Simpson
                  ---------------------------------
                  Christine Simpson, Vice President.

PREVIOUSLY OWNED MORTGAGE PARTNERSHIPS INCOME FUND 3

By MacKenzie Patterson, Inc., General Partner

         By:      /s/ Christine Simpson
                  ---------------------------------
                  Christine Simpson, Vice President.

MP-DEWAAY FUND, LLC

By MacKenzie Patterson, Inc., Manager

         By:      /s/ Christine Simpson
                  ---------------------------------
                  Christine Simpson, Vice President

SPECIFIED INCOME FUND, A CALIFORNIA LIMITED PARTNERSHIP

By MacKenzie Patterson, Inc., General Partner

         By:      /s/ Christine Simpson
                  ---------------------------------
                  Christine Simpson, Vice President.

MACKENZIE PATTERSON SPECIAL FUND, LLC

By MacKenzie Patterson, Inc., Manager

         By:      /s/ Christine Simpson
                  ---------------------------------
                  Christine Simpson, Vice President


                                       6
<PAGE>

MACKENZIE PATTERSON SPECIAL FUND 3, LLC

By MacKenzie Patterson, Inc., Manager

         By:      /s/ Christine Simpson
                  ---------------------------------
                  Christine Simpson, Vice President

MACKENZIE PATTERSON SPECIAL FUND 5, LLC

By MacKenzie Patterson, Inc., Manager

         By:      /s/ Christine Simpson
                  ---------------------------------
                  Christine Simpson, Vice President

MP FALCON FUND, LLC

By MacKenzie Patterson, Inc., Manager

         By:      /s/ Christine Simpson
                  ---------------------------------
                  Christine Simpson, Vice President

MP VALUE FUND 4, LLC

By MacKenzie Patterson, Inc., Manager

         By:      /s/ Christine Simpson
                  ---------------------------------
                  Christine Simpson, Vice President

MP VALUE FUND 5, LLC

By MacKenzie Patterson, Inc., Manager

         By:      /s/ Christine Simpson
                  ---------------------------------
                  Christine Simpson, Vice President

MP VALUE FUND 6, LLC

By MacKenzie Patterson, Inc., Manager

         By:      /s/ Christine Simpson
                  ---------------------------------
                  Christine Simpson, Vice President

MACKENZIE PATTERSON, INC.

By:      /s/ Christine Simpson
         ---------------------------------
         Christine Simpson, Vice President

                                       7


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