As you mention, if you are using hard money yes you are paying more in interest and if you hvae the cash I would recommend using cash over hard money due to the high interest rate that you are paying.

Also, the whole point of hiring a PM is to handle tenant, maintenance, and rent collection, so if your partner isn’t actively managing but just supervising the PM, IMO not worth having a two people essentially looking over the same tasks.Contributing financially for one person and the other having no financial stake raises decision making questions, such as when to sell, how profits will be distributed, etc.

Initially, the business was cash-flow positive for the first three months, but things have declined since then.I received several negative reviews due to cleaning issues, and it took me over a year—cycling through multiple cleaners and settling for an average one—before finally hiring a great cleaner.

Low appreciation may make the RoI from these assets low over long term, though they will cash flow on day 1.

I've been strung along by them for over a year.

I also do a pre-screening questionnaire over the phone before I agree to a showing.

The advantage of Reg D over relying on the general exemption is (1) if you comply the SEC can’t come back and say you should have registered and (2) if your sued by a disgruntled investor you have a definitive defense, which means an attorney is unlikely to take an investors case on a contingency basis - unless fraud was committed.  

., mobile homes often lose value over time unless they are situated on owned land) and tenant turnover.However, tax advantages include depreciation deductions, which allow you to offset rental income by writing off the property's value over time, and cost segregation, which accelerates certain deductions.

And I would say that that is how it has been for me over the past year with my Airbnb's in Costa Rica.  

Although I don't have much experience in this field yet, I am passionate about real estate and hope to continuously learn and grow in this industry.