Major economic downturns, such as the Great Depression and the 2008 Financial Crisis, occurred under both parties and were driven by factors unrelated to the party in office.The following table shows the DJIA's performance during each presidential administration.

The administrative headache and the additional phone calls from parents are not even close to worth it.

I still use Stessa for administrative reasons to store documents and it can easily run a Statement of Real Estate Owned and other useful reports. 

We have offshored our reservations department and have them assisting with reservations related administrative tasks but I believe you will still be extremely involved in the day to day without a PM company. 

Dig into what they need and see if you can provide the administrative support as I mention in #4 below.

Fees and Costs: DSTs have higher fees than traditional real estate, often including acquisition, management, and administrative fees.

We have added layer upon layer of complexity to keep it working, to the point now where it's a mess that nobody even those administrating it get anymore.     

Not all drafters, but most drafters I've seen and dealt with in the past, do not do construction administration.

However, this approach might add complexity, such as additional tax filings, self-employment taxes, and administrative costs.

Chris I agree that the administrative burden drives minimum investment amounts higher to make sure the juice is worth the squeeze to the sponsor.