Is the PM an individual that works for a larger organization or their own independent business (eg like a realtor who works with a group of people at an office)? 

Not sufficient for individuals' identification always, though.

You can influence your investment's performance through property improvements, rent adjustments, and savvy management... something you can't quite do with an annuity tied to obscure indexes.An Individual Retirement Account (IRA), particularly a Self-Directed IRA, can be used to invest in real estate and employ leverage to potentially enhance returns.

When attending the various sessions, I learned many individuals started their journey with house hacking.

While I agree with what Noah shared about the individual with millions in the bank being able to make the $10K risky investment without a poor outcome impacting them, the capital raisers are not going to the investors with millions in the bank.

I've researched that some individuals will build, put the build in a 30-year mortgage with a bank, pull out the equity and repeat the process in another build.

Also, It can’t be subdivided and the duplexes won’t be able to be sold off individually.

This applies to house hunters for construction crews (or high-value individuals), insurance claim relocation specialists, and nursing contract placement coordinators. 

Why not invest in a fund or syndication vs. a single individual?

If you do this, plumb and wire each one to the individual units to keep your costs down.