The theory is sound.

When you look them up make sure the owner isn't a LLC and that there primary address is not the same as the property you where looking at.

If so, how was the experience ? 

Hi @Justin Snead, I would say just make sure wherever you take the pre-licensing class is IDFPR approved. 

To become a true business owner or investor, you need to leverage your time through others.

Eric,, I think why people go for the fund model is the idea that they are spreading their money into multiple notes being held by the company.. while in theory this is great but as you noted you don't really have any security compared to being the beneficiary of the debt instrument IE debt is in your name. 

Many investors get excited and want to 10x everything, thinking they'll be the next Grant Cardone.

However, have you ever gone downtown to the steps near the capital and witnessed a Trustee sale? 

Negotiate turning the units yourself once a tenant vacates.

Are there any caps on pass-through expenses?