Given that I'm looking for a less time-intensive investment option for now and we are accredited investors, the Colonial note fund they offer is a better option for us.  

Less capital intensive and you can get your feet wet.

One of the most important things for you to know is that REI is very capital intensive.

LTC/LTV also lower which combined with depository relationship makes borrowing even more capital intensive.

I’m not looking to make real estate my full time job or anything that intense, but more tools to get me to financial independence sooner are always welcome, and this is something I think I could be good at. 

Real estate is capital intensive. 

The idea is if banks were doing all the owner occ loans the cost to the buyer would go down by 5k to 15k per transaction depending on the price of the home  Plus approvals would happen faster and there would not be this intense need to solve the underwriters every little crazy question  I am sure you have run into this over the years..

Generally speaking though, this asset class can be argued to be one other most management-intensive. 

If you get properties that are within walking distance to fun things like: bars, football stadiums or basketball stadiums, then they will always be in high demand and very low likelihood of vacancy. 

It's more capital intensive than most other markets and the pay off can be bigger.