My one drawback right now is funding.

Now, if you accountant (or whoever is setting these up for you) will charge less to do it this way, I don't know of any drawbacks.

Kitchen is a draw back from what people say when they come thru.

I actually believe that it's more of a benefit than a drawback in that other RE agents give more credence to licensed investors than non-licensed investors.Benefits:Access to the MLS for listings and comps.

The only drawback might be that I might end up rushing a purchase just to make it work with my time requirements as I have a lease ending in a few months.Right now I have 30k to work with, but am debt free and should be able to add approx 30k/yr to my working capital....

Any drawbacks? 

The drawback to this is that i am in a sub-par location and my future is not "secure". 

Is there something I'm not seeing that is a drawback?

In terms of how long you have been investing and whether this is a draw back is tough to quantify.

You would make your money from management fees and a profit split.One drawback here is that, though you could defer any profit sharing to give the pool time to invest the money, at some point, loans or not, your investors will expect a check.