I personally like Alabama and Tennessee a lot, depending on what specific area you're looking at.Look for Class B or C properties in stable rental markets, particularly single-family homes or duplexes.

Given this is a front loaded fee that needs to be overcome in asset performance, it is a lot harder to absorb on "smaller" deals.  

I spent many years managing myself and personally collecting rent checks. 

One-person rental units are in the highest demand, and co-living directly appeals to this market.

Overall I would personally consider how I can still grow with the freedom that I have focusing on my real estate.

They are all under my personal name.

Any one have any feedback on them and/or their performance? 

I found similar patterns between all 5 companies: namely, they had taken on too many units, were over-charging me for things I didn't need, and weren't handling issues correctly (they would send out vendors who didn't know what they were doing, mis-diagnose issues etc.)No disrespect to the PMs on this chain or BP in general, but any third-party manager won't perform exactly the way you would like them to simply because of the constraints they are faced with as far as having so many units and owners to keep tabs on. 

Personally, I'd go with the As-Is scenario.

He’s not a pushy salesman, and I’ve got a business partner who has worked with him for the last 10 years without any issues.As for your situation, I wouldn’t say it sounds like a Ponzi scheme, but I’d strongly recommend meeting with the fund sponsor in person and asking as many questions as you can.