Just bear in mind that trips to Maui involve 'discretionary' funds...A few more things to think about during your due diligence. 1.

It involves investing in strong growth markets, diversifying, and buying distressed properties.

This year they’re real estate syndicators; three years hence they’re running and selling oil drilling participations, after that they’re involved in fin tech.  

With $50K—$100K, you could fund a rehab and refinance to free up most of your equity for the next deal.Cons: BRRRR often requires more hands-on involvement, especially managing contractors and timelines, which could be challenging with your demanding job and family obligations.

Like most things in real estate, a lot depends on the circumstances of the individuals involved and not just the numbers and figures.I hope this helps explain my thoughts, and I apologize for the lack of clarity when I defined "arbitrage".

Being deeply involved in the local real estate market, I stay connected with wholesalers, realtors, and local investors who often share opportunities.

There is a Fund of Funds involved.  

You will be tempted to go with the cheap guy , you may get lucky , odds are you wont . 

The borrowers could be paying their mortgage to scottsdale or scottsdale most likely sold the loans - when you invest in a syndication you have rights to manage the specific assets unless he gets a court order which there are also many other investors involved. 

I would also encourage you to get involved in networking groups in the Chicagoland area as well as listen to the straight up Chicago investor podcast.