I am in the begining stages of producing a conce0t drawing for the rental property.

I self-manage and produce $700 in pure cash flow each month.Lessons learned?

Adding amenities like power, water, and a barn or pavilion could increase its value as an event space.Farm-to-Table Experiences: If agriculture is possible, create an on-site farm-to-table business where people can visit, harvest, and eat fresh produce.

This amounts to lost opportunity because if you had purchased RE, at the closing it can start producing return. 5) ADUs detract from the existing structure whether this is privacy, a garage, or just yard space. 6) this is related to number 1, but there are many more buyers looking to purchase homes for their family than there are RE investors looking to purchase small unit count properties.

When the money dries up, they'll leave just as quickly as they arrived and you may be stuck with a real mess.If it can produce more money as a short-term rental, do it yourself.

A deal that produced a 25% net IRR to investors with a 1% acquisition fee, 1% asset management fee, simply pref + single tier waterfall, etc, may only produce a 15% net IRR under the current fee and carry structure, if their acq fee went to 3%, pref went down, they now have a GP catchup and multi-tier waterfall giving them higher splits for higher returns, etc.

Real estate investments (STRs, MTRs, live in flips) have produced my best returns by a good margin.

Our 2025 goal is at least 2 income producing properties, with usable equity. 

I do not have my numbers as well organized as @Greg Scott but my estimate is upper 20% annual return on average.The 3 i am currently invested in, one seems likely to produce an outstanding return (High risk, high reward), one is conservative and is performing to projections, and one i have significant concerns about but has not had a capital call.  

The hedge funds and firms alone are buying more supply than is being produced.