notes vs. note funds

[Stephen Heebner]

Was hoping to collect some wisdom from the BP community if I can explain myself clearly. Wondering if there is really any benefit to owning individual mortgage notes vs. investing in a mortgage note fund. From my simple calculations, taking into account paying for attorneys, business structure/expenses, etc. not to mention the time of due diligence, and understanding legalities, it seems more lucrative (AND SAFE) to invest in a fund. I ran some numbers (ball parking of course) and I actually make more lucrative cash flow through a fund returning 8% than a note amortized at 11-12%. The fund, not being amortized returns more in the years following plus also having preserved my original capital. I understand this is all based solely on a cash flow perspective. Does it make more sense for someone like me with a w-2 job that I enjoy to just invest in funds? I am looking for cash flow. I understand this is not a one size fits all subject... just seeing if anyone has any wisdom for me, OR, is in the same boat as I am. Thanks!!!