I.e. the value-add player that has moved to more core deals, or heavier performance alignments shifting overtime to more fee heavy structures.

For $250 minimums, and only $9mm of GAV, probably not really too much concern.If their platform starts growing exponentially, I would be concerned about their focus to make sure you investments continue performing when they are likely to be very distracted by SEC investigators.  

Once you start thinking about how properties will perform in year 5 or 6, you can start thinking of your initial financing as more of a bridge to secure the asset, which allows you keep growing. 

I am definitely getting stuck with analysis paralysis as many beginners do.

There’s a lot that goes into investing, and I think most beginners would do much better in their own backyard. 

Despite the income, I still feel like I’m over-leveraged.Has anyone else felt this way as a beginner investor?

What I personally experienced was the under-capitalized beginners running out there talking multiple sellers into doing this..

As a beginner, you'll have less funding opportunities, use that time to learn your process (whatever it may be).

Out of curiosity, which neighborhood is the property, and how is it performing?

Every pro was once a beginner.