An attorney can give his opinion as to what the odds are of the different ways a legal dispute can play out, but it’s the investors decision based on a cost/benefit/ risk analysis to decide how and of to proceed.There’s no way for anyone to render an opinion about what you “should” have done without (1) complete information as to the property being purchased and (2) complete information as to the risk tolerance and financial makeup of your investment group.Here’s my advice - don’t second guess yourself based on opinions of people who (1) don’t possess “all the facts” and (2) probably never acted as sponsors of a syndicated investment.  

Consider equity building and tax benefits from homeownership.

If anyone is versed on tax benefits or implications I'd be interested in hearing that as well. 

What benefit does this provide them?

If you’re 50 or older a defined benefit plan can allow you to contribute $250,000 + per year tax deferred.  

My instinct tells me yes if I can find quality properties at my price point, but that there could be some benefit to putting it all on one potentially more reliable/higher quality structure. 

On the Reno side there are still all the tax benefits with ranchettes with views of the city.

I'd advise you to pick a service that partners with the Campaign Registry to let you register a phone number in order to comply with TCPA and benefit from optimal deliverability.

@George Bell The DSCR loans I researched did not allow prepayment of the loan, there was a massive penalty that would have offset the benefits.

A turn-key purchase is typically an easier and less risky strategy , but the benefits are less than buying a flip / brrr.